KwaZulu-Natal Growth Fund

Contact details

Physical: 28th Floor, Old Mutual Building, 303 Dr Pixley ka Seme Street, Durban, 4001
Postal: PO Box 1817, Durban, 4000
Tel: 031 372 3720
Fax: 031 306 2547


The mission of the KwaZulu-Natal Growth Fund is to provide competitive and innovative project finance to private sector investments that unlock growth opportunities in the KZN province for a better future by promoting direct investment, Broad-Based Black Economic Empowerment (B-BBEE) and job creation, whilst remaining financially self-sufficient and sustainable.

The Fund's principal objective is to steer sustainable economic development and job creation through facilitating the financing of medium- and large-scale infrastructure projects within the KwaZulu-Natal province. The KZN Growth Fund is therefore a project finance facility that has been developed by the provincial government to spearhead the funding of economic projects.

Its strategic objectives are to increase investment into the province; increase competitiveness of the regional economy; broaden participation in the economy; facilitate the development of skills; and facilitate B-BBEE.

Office Bearers/Management

Ms Doris Rosemary Hlatshwayo
Deputy Chairperson:
Mr Helge Switala
Board Members:
Mr Siddiq Adam (CEO)
Ms Delia Jay
Ms Phumzile Langeni
Prof Imtiaz Vally
Mr Siddiq Adam
Mr Ismail Abdoola
Senior Management:
Mr Ahmed Jhaveri (Investment Officer)
Mr Bruce Ndidi (Project Investment Officer)
Mr Mlungisi Phungula (Legal Risk and Compliance Officer)
Mr Aubrey Lethukuthula Shabane (Chief Investment Officer)
Communications Officers:
Tutula Dumalisile

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
AUDIT OUTCOMEClean AuditClean AuditClean AuditClean Audit
Current Assets603 548593 668707 986111 250
Non-Current Assets490 952368 381106 403141 566
Total Assets1 094 500962 048814 389252 816
Current Liabilities4 3962 33724 73747 573
Non-Current Liabilities115 238448 082573 594100 920
Total Liabilities119 634450 419598 331148 493
Total Net Assets974 866511 629216 058104 324
Total Revenue128 77581 80350 91649 593
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expenditure(50 279)(31 231)(43 501)(41 985)
Employee Related costsn/a(14 579)(4 821)-
Surplus/(Deficit) for Year78 49550 5727 4157 608
Net Cash Flows from Operating Activities57 35724 8319 5743 146
Net Cash Flows from Investing Activities(48 377)(712)(65)-
Cash & Cash Equivalents at End of Year580 699594 784608 00025 957
Unauthorised Expenditure----
Irregular Expenditure----
Fruitless & Wasteful Expenditure----
Posts Approvedn/an/an/a23
Posts Filledn/an/an/a21
SourcesAnnual ReportAnnual ReportAnnual ReportAnnual Report

Annual Reports

The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at so that we can correct them.
Free State Department of Public Works & Infrastructure
International Pre-University College
UKZN Extended Learning
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