I 
110TH CONGRESS 
2D SESSION 
H. R. 7164 
To authorize the Southern Africa Enterprise Development Fund (SAEDF) 
to conduct public offerings or private placements for the purpose of 
soliciting and accepting venture capital, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 26, 2008 
Mr. PAYNE (for himself and Ms. JACKSON-LEE of Texas) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To authorize the Southern Africa Enterprise Development 
Fund (SAEDF) to conduct public offerings or private 
placements for the purpose of soliciting and accepting 
venture capital, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Southern Africa Enter-
prise Development Fund Act of 2008’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
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(1) The Southern Africa Enterprise Develop-
ment Fund (SAEDF) was created in 1994 for the 
purpose of providing financial services to stimulate 
the creation and expansion of indigenous, previously 
disadvantaged small- and medium-sized enterprises 
(SMEs) in the southern African region. 
(2) SAEDF’s geographic scope encompasses 11 
vastly different southern African nations covering an 
area nearly the size of the United States. 
(3) SAEDF’s grant agreement with the United 
States 
Agency 
for 
International 
Development 
(USAID) requires that not less than 50 percent of 
its capital be invested in the Republic of South Afri-
ca. 
(4) SAEDF was conceived as an independent 
not-for-profit vehicle providing long-term risk capital 
as well as offering advice and technical assistance 
both to financial intermediaries and directly to indi-
vidual firms, all for the purpose of creating socio- 
economic opportunities and job and wealth creation 
among disadvantaged groups. 
(5) SAEDF has achieved notable commercial 
accomplishments 
and 
has 
put 
more 
than 
$80,000,000 to work in carrying out its mission, 
providing financing to 29 indigenous ventures across 
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southern Africa which directly employ over 2,000 
workers and leading to the creation of an estimated 
50,000 jobs. 
SEC. 3. USE OF UNITED STATES PRIVATE VENTURE CAP-
ITAL AND NONAPPLICABILITY OF OTHER 
LAWS. 
(a) USE OF PRIVATE VENTURE CAPITAL.—In order 
to maximize the effectiveness of the activities of SAEDF, 
SAEDF may conduct public offerings or private place-
ments for the purpose of soliciting and accepting venture 
capital which may be used, separately or together with 
funds made available from the United States Government, 
for any lawful investment purpose that the Board of Di-
rectors of SAEDF may determine in carrying out the ac-
tivities of SAEDF. Financial returns on SAEDF invest-
ments that include a component of private venture capital 
may be distributed, at such times and in such amounts 
as the Board of Directors of SAEDF may determine, to 
the investors of such capital. 
(b) NONAPPLICABILITY OF OTHER LAWS.—Notwith-
standing any other provision of law, funds obligated to 
SAEDF may be available and used for the purposes of 
its grant, this bill, or otherwise, and Executive branch 
agencies may conduct programs and activities and provide 
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SEC. 4. DEFINITION. 
In this Act, the term ‘‘Southern Africa Enterprise 
Development Fund’’ or ‘‘SAEDF’’ includes any successor 
or related entity to SAEDF or any organization, corpora-
tion, limited-liability partnership, foundation, or other cor-
porate structure that receives, or is authorized to manage, 
any or all of the remaining funds or assets of SAEDF. 
Æ 
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