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Futuregrowth, a leading asset manager, has lifted the suspension of its lending activities to the Industrial Development Corporation (IDC) with immediate effect. The announcement follows Futuregrowth’s extensive review of the IDC’s the governance and investor protection mechanisms.

IDC chief financial officer, Nonkululeko Dlamini, said both parties had a constructive and robust engagement during the due diligence process.

“As part of the engagement with Futuregrowth, there were some recommendations regardingenhanced transparency and public disclosures relating to governance structures,” said Dlamini.

She stressed the IDC’s commitment to maintaining the highest levels of corporate governance, independence of decision-making and the protection of the interests of its funders.She added that Futuregrowth was one of the IDC’s key funders and that their support remained critical to achieving the Corporation’s mandate and objectives of supporting growth and industrialisation of the South African economy.
IDC CEO launches youth portal

Keen to ramp-up funding to youth-owned enterprises in the financial year ahead, the IDC has launched a youth portal for youth entrepreneurs to engage on challenges, opportunities and other critical issues affecting them.

Minister challenges SA youth

Young people have a bigger role to play towards accelerating government's efforts to transform and grow the local economy, Economic Development Minister Ebrahim Patel told the inaugural IDC national youth conference.

Limpopo on the right growth path

IDC funding to black industrialist grew by nearly 50% in 2015/16, with R923-million of the R2.9-billion approved going to projects in Limpopo, IDC CEO Mvuleni Geoffrey Qhena told the latest IDC CEO Regional Roadshow in Polokwane.

Growth opportunities highlighted at KZN Roadshow

IDC funding for existing and potential industries in KwaZulu-Natal is poised for accelerated growth, IDC CEO Mvuleni Geoffrey Qhena told stakeholders at the latest IDC CEO Regional Roadshow in Umhlanga.

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Domestic Medium Term Note Programme

The Industrial Development Corporation of South Africa Ltd has established a ZAR15,000,000,000 Domestic Medium Term Note Programme (as amended and updated on 17 July 2012). You can read the memorandum here. MORE >

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