0.36% of Nedcor's enlarged issued share
capital (which equates to 0.45% of Nedcors South African
businesses) will be set aside through the “zero-finance” mechanism
(referred to here) for a Community Trust to be run in
conjunction with the Nedcor Foundation. The Eyethu Community
Trusts aim is to supplement existing community social initiatives
on a co-ordinated and consistent basis. The initial focus of
the Eyethu Community Trust will be the training of SME entrepreneurs
in basic business and financial skills. The trust will be funded
partly on a grant basis (25%) with the remaining funding to be
on the basis detailed in Mechanics / funding
to implement the Nedcor Transaction.
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