Taking services to the people

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The Industrial Development Corporation actively promotes investments in rural and township areas, taking on the challenge of the under-developed areas as well as that of the urban-rural economic divide.

South Africa’s nine provinces - the Eastern Cape, the Free State, Gauteng, KwaZulu-Natal, Limpopo, Mpumalanga, the Northern Cape, North West, and the Western Cape – each have their own legislature, premier and executive council – and distinct landscape, population, and economy.

To cater for prospective business partners and entrepreneurs living in each province, the Industrial Development Corporation (IDC) has regional and satellite offices across the country, from busy hub of KwaZulu-Natal to the sprawling and somewhat empty Northern Cape.

These offices develop strategies to enable the IDC to maximise its impact in each province.

The corporation implements sustainable industrial development policies and is the driving force behind several government initiatives designed to improve economic growth, development and job creation.

Government policy prioritises job creation, poverty alleviation and minimising society’s inequalities. These policies include:

  • The New Growth Path (NGP);
  • Presidential initiatives such as the Presidential Infrastructure Co-ordinating Commission (PICC), Strategic Infrastructure Projects (SIPs ) and National Development Plan (NDP); and,
  • Industrial Policy Action Plan (IPAP).

The IDC is central to successfully implementing these policies. The corporation ensures that implementation strategies and macro policy objectives work together.

“Moving forward, we will continue to deepen our commitment to developing South Africa’s industrial capacity. It is also encouraging that economic infrastructure and public investment remains at the core of the government’s economic growth priorities. Our participation in various Strategic Infrastructures Projects, spearheaded by the Presidential Infrastructure Co-ordinating Commission, creates the opportunity for us not only to rejuvenate South Africa’s industrial base but to also promote localisation,” says IDC Chief Executive Geoffrey Qhena (26 June 2012).

The NGP – the Framework of the New Economic Growth Path – outlines how South Africa can achieve a more developed, cohesive and equitable economy, and identifies sectors to generate an inclusive, green economy. vAimed at improving growth, employment creation and equity, the policy aims to create five million jobs over the next 10 years.

It reflects the government’s commitment to prioritising employment creation in all economic policies, and identifies strategies that will enable the country to grow, while meeting its developmental agenda.

Five areas are identified in the framework: energy, transport, communication, water, and housing. Sustained public investment in these sectors will create jobs in construction, operation and infrastructure maintenance.

Key actions and times for implementing the industrial policy are set out in detail in the IPAP, which has three main components:

  • A range of sectorial actions;
  • Cross-cutting actions important to industrial policy; and,
  • Measures to improve the government’s organisation and capacity to implement industrial policy.

There is an emphasis on labour-absorbing production and services sectors, increasing poorer people and regions’ access to the economy, and building South Africa’s contribution to industrial development in the rest of Africa.

Decentralisation decision-making, implementation and providing services to all its regions have significantly improved the IDC’s ability to meet its key mandates and eliminate one-size-fits-all approaches to industrial development.

The regional offices

The IDC regional offices play an important role in developing local economies and supporting local business initiatives, particularly emerging entrepreneurs. Among the tasks they undertake are identifying local opportunities, helping develop new business, playing an active role in local economic development enterprises, giving strategic support to local governments, and advancing community projects – particularly in rural areas.

Our sectors

Our strategic business units work in three distinct areas: the services sector; within the mining and manufacturing sector; and in the agro-processing and new industries environment. MORE >

Our regional support

We make an impact across the country, helping develop new business, growing existing companies, boosting local economies and providing expertise wherever needed. MORE >

Annual report

Advancing Industrial Development covers our financial and non-financial strategy and performance aspects for 2015. MORE >

Our products

We offer a wide range of products from debt equity to providing working capital and equipment finance. MORE >

Our research

Stay informed and read our award-winning research reports, as our team keep tabs on the economic trends globally, regionally and locally. MORE >

Corporate responsibility

We are playing our part in improving the quality of life of all our communities, especially in rural and underdeveloped areas. MORE >

Doing business with us

This is your one-stop-shop where you can engage with us directly via our e-services. MORE >

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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