KZN Growth Fund Agency Prioritises Stakeholder Engagement to Drive Economic Growth
Durban – The KwaZulu-Natal Growth Fund Trust (the Trust) has officially transitioned into the KwaZulu-Natal
Growth Fund Agency (KZNGFA), a provincial public entity established under the KwaZulu-Natal Growth Fund
Agency Act 4 of 2024, which came into effect on 09 April 2024.
This transition follows the signing of a Business Transfer Agreement (BTA) on 01 September 2025, which
provides for the transfer of all business operations, assets and liabilities of the Trust to the Agency with effect
from 1 October 2025.
The enactment of the KZNGFA Act and this transition ensures that the Agency is fully empowered to deliver on
its mandate by providing for:
• the establishment of appropriate governing structures, powers and functions
• the transfer and appointment of staff
• sustainable finance and funding arrangements, and
• transitional mechanisms to ensure operational continuity
Dr Cassius Lubisi, Chairperson of the KZNGFA Board, said the transition represents a milestone in strengthening
KwaZulu-Natal’s investment landscape: “The establishment of the KwaZulu-Natal Growth Fund Agency marks a
significant step in aligning our governance and operational structures with the province’s long-term economic
development objectives. This move ensures greater institutional stability, continuity of operations and an
enhanced capacity to serve our stakeholders. The Agency will continue to honour all existing agreements while
pursuing new opportunities to drive inclusive growth and development in KwaZulu-Natal.”
As part of the BTA, the Trust has also requested written consent from its partners for the cession and
assignment of all rights, duties and obligations under existing agreements to the new Agency. This process
ensures seamless continuity of business operations and contractual obligations.
“We value the trust placed in us by our partners and this transition is designed to deepen that relationship,” Dr
Lubisi added.
“The Agency will continue to play a pivotal role in mobilising investment and supporting projects that contribute
meaningfully to the province’s economic growth.”
The KwaZulu-Natal Growth Fund Agency will now operate as the successor-in-title to the Trust and will serve as
the central investment vehicle for project finance in the province.
MEDIA INQUIRIES:
Please direct all media queries for the KZN Growth Fund Agency by email to [email protected]
ABOUT KWAZULU NATAL GROWTH FUND AGENCY:
The KZN Growth Fund Agency (KZNGFA) is an unlisted entity of the EDTEA as provided for in the KZN Growth
Fund Agency Act, Act No. 4 of 2024. It was initially set up in 2008 as a Trust initiative of the KZN Government’s
Department of Economic Development and Tourism (DEDT), currently EDTEA, structured as a debt fund. It
became operational in 2009 to finances medium-to large- scale private sector projects throughout the KZN
province. The main objective for the establishment of the entity was to provide competitive and innovative
solutions to private sector investments that propel socio-economic growth in the KZN province. The EDTEA is the
sole beneficiary of the KZNGFA, whose objectives are in line with the provincial Growth and Development
Strategy as well as the New Growth Path Framework and various sector priorities.
