The Industrial Development Corporation of South Africa Limited (IDC) was established in 1940 by an Act of Parliament (Industrial Development Corporation Act, No 22 of 1940) and is fully owned by the South African Government.
The IDC’s activities currently centre on the National Development Plan (NDP), the New Growth Path (NGP), the Industrial Policy Action Plan (IPAP), the Agricultural Policy Action Plan (APAP) and localisation opportunities associated with the National Infrastructure Plan (NIP). We identify sector development opportunities aligned with policy objectives and develop projects in partnership with stakeholders. We provide financing to expand existing industrial production capacity, and to introduce new industrial operations and technologies that contribute to strengthening South Africa’s industrial base.
One of the most important outcomes of our industrial financing activities is the facilitation of employment creation, both direct and indirect. Our funding also impacts on regional development, including South Africa’s rural areas and less industrialised provinces, as well as economies in the rest of Africa. The IDC supports the economic empowerment of emerging black entrepreneurs, designated groups, youth and communities, and promotes the advancement of black industrialists.
We promote sectoral diversity, increased localised production and environmentally sustainable growth. In addition, either directly or through our subsidiary, sefa, the IDC supports the development of the small and medium enterprise (SME) segment of our economy.
While the primary focus of our funding activities is the private sector, we work closely with various government agencies and sector organisations to coordinate industry development. We also support government’s developmental initiatives by means of research and management of government funds allocated to achieving specific outcomes.
Our focus on the continent is to contribute to the development and integration of regional value chains by building upon the strengths of different African economies to grow and strengthen their industrial bases for individual as well as regional benefit.
Promoting economic growth and industrial development
To be the primary driving force of commercially sustainable industrial development and innovation for the benefit of South Africa and the rest of Africa.
The Industrial Development Corporation is a national development finance institution whose primary objectives are to contribute to the generation of balanced, sustainable economic growth in Africa and to the economic empowerment of the South African population, thereby promoting the economic prosperity of all citizens. The IDC achieves this by promoting entrepreneurship through the building of competitive industries and enterprises based on sound business principles.
Facilitate sustainable direct and indirect employment
Improve industrialisation and equity in Africa and South Africa’s rural areas, township economies and poorer provinces
Promote entrepreneurship and small and medium enterprise (SME) growth
Advance environmentally sustainable growth
Grow sector diversity and increase localised production
Support the transformation of communities
Development of black industrialists
The following diagram illustrates the IDC Group structure in so far as operational subsidiaries with assets exceeding R250 million are concerned. The IDC financing subsidiaries as reflected in the notes to the Annual Financial Statements are Findevco, Impofin, Konoil and sefa.
For the period up to 31 March 2015
For the period 1 April 2015 going forward
Refer to Section 5 online for details of Special Funding Schemes