Who we are
Established in 1940, we are a national development finance institution set up to promote economic growth and industrial development. We are owned by the South African government under the supervision of the Economic Development Department.
We aim to be the primary source of commercially sustainable industrial development and innovation to benefit both South Africa and the rest of Africa.
Our mandate is to contribute to the creation of balanced, sustainable economic growth in South Africa and on the rest of the continent.
We promote entrepreneurship through the building of competitive industries and enterprises based on sound business principles.
Everything we do is directed by our values:
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 was mandated to develop domestic industrial capacity, specifically in manufactured goods, to mitigate the disruption of trade between Europe and South Africa during the Second World War.
We have contributed to the implementation of South Africa's industrial policy for more than 70 years and established, among others, the petro-chemicals and minerals beneficiation industries. We have stimulated large industrial projects in these industries - acknowledged today as the cornerstones of the country's manufacturing sector - and influenced the establishment of industries in fabricated metals, agriculture and clothing and textiles.
During the 1990s, our mandate was expanded to include investment in the rest of Africa. The Mozal aluminium smelter in Mozambique was the first such venture. We secured investors from around the globe to establish a major industrial enterprise in a country plagued by decades of civil war. The smelter illustrated the viability of large projects on a continent often shunned by investors. Currently, our investments in Africa include mining, agriculture, manufacturing, tourism and telecommunications.
The IDC's funding is generated through income from loan and equity investments and exits from mature investments, as well as borrowings from commercial banks, development finance institutions (DFIs) and other lenders.
We align our priorities with government's policy direction and remain committed to developing the country's industrial capacity, as well as playing a major role in facilitating job creation through industrialisation.
Our industrial development role
As a key implementing agency of industrial policy, the IDC's activities currently centre on the National Development Plan (NDP), the New Growth Path (NGP) and the Industrial Policy Action Plan (IPAP). We identify sector development opportunities aligned with policy objectives and develop projects in partnership with stakeholders.
By developing industrial capacity the IDC achieves specific outcomes. The most important of these is to enable job creation through the companies we fund. In addition, IDC funding continues to promote regional development and integration, economic empowerment of communities and growing black industrialists. The IDC remains committed to promoting environmentally sustainable growth and increasing sectoral diversity to boost the local production of goods. The corporation also plays a critical role, directly and through its sefa subsidiary, in promoting entrepreneurial development and growing the SME sector.
While our funding activities focus mainly on the private sector, we work closely with different levels of government agencies and sector organisations to coordinate industry development. We also support government in other areas related to its development objectives, such as research and management of government funds allocated to achieving specific outcomes. We pro-actively develop and implement strategies in the rest of Africa to create and integrate value chains across the continent. Our aim is to use the strengths of different countries in the region to establish a more competitive industrial base.
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