IEDF and Nedbank Join Forces to Promote Financial Literacy

Free State, 14 May 2024: The Informal Economy Development Forum (IEDF) proudly announces its strategic partnership with Nedbank to launch a groundbreaking initiative aimed at advancing financial literacy. This collaboration marks the inaugural phase of the Bakeries and Retail project, which commenced in Mangaung, located within the Free State Province.


With a steadfast commitment to eradicating poverty and cultivating robust entrepreneurship, IEDF and Nedbank are poised to spearhead a transformative endeavor that promises to empower individuals and communities alike. By equipping aspiring entrepreneurs with the essential tools and knowledge necessary to navigate the intricate landscape of financial management, this initiative seeks to ignite economic prosperity and catalyze sustainable growth within the region.


“Through this strategic partnership, we envision a future where financial literacy serves as a catalyst for socio-economic empowerment,” remarked Mabutho Khumalo, IEDF SA President. “Together with Nedbank, we are steadfast in our mission to foster a culture of entrepreneurship and resilience, propelling our communities towards a brighter and more prosperous tomorrow.”


As the inaugural phase unfolds in Mangaung, the epicenter of this visionary undertaking, both organisations remain steadfast in their dedication to fostering a conducive environment for budding entrepreneurs to thrive. Leveraging the synergies of expertise and resources, IEDF and Nedbank are poised to chart new pathways towards inclusive economic development, not only in the Free State Province but across the broader landscape of South Africa.

“We are thrilled to embark on this transformative journey alongside IEDF,” stated Mr. Charles Mpofu, Manager: Strategic Relationships & Consumer Education at Nedbank. “By harnessing the power of financial literacy, we are laying the foundation for sustainable entrepreneurship and economic resilience, ultimately driving positive change within our communities.”

The partnership between IEDF and Nedbank represents a testament to the power of collaboration in effecting meaningful change. As the Bakeries and Retail project takes its inaugural steps in Mangaung, it signals the dawn of a new era of opportunity and prosperity for the residents of the Free State Province.

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About IEDF:

IEDF plays a leading role at being the catalyst for innovation and transformation. We place focus on creating opportunities for Informal Businesses with training & development in leadership roles and create market access for Informal & Corporate businesses alike. We drive transformation to advance business sustainability and resilience, with a focus on building entrepreneurs by assisting the micro and informal business to set up and provide training and education in their areas. We support and work closely with NGO’s & NPO’s to assist in building sustainable communities within our country.