Latest News & Developments
industrial development corporation
Mining Exploration fund could hasten SA’s transformation trajectory
South Africa's mining sector receives a transformative boost with the launch of a R400 million Junior Mining Exploration Fund, aimed at empowering black-owned mining companies and revitalising the country's exploration activities. This initiative could be the key to unlocking the nation's vast mineral wealth while promoting inclusive economic growth.
Devastating consequences of ArcelorMittal's Newcastle furnace closure: A call to action
The imminent closure of ArcelorMittal's Newcastle furnace threatens over 3 500 jobs and South Africa's industrial future. Cosatu calls for urgent intervention to prevent an economic catastrophe in KwaZulu-Natal and protect the nation's steel manufacturing capacity.
The big impact of Chinese vehicle imports on the South African manufacturing sector
November may have represented the second consecutive increase in monthly new vehicle sales this year and might signal the start of a long-awaited upward trend in the market, but total domestic sales, year-to-date to the end of November, was down 3. 47% to 474 469 units, versus the same period last year
IDC welcomes first woman CEO, Mmakgoshi Lekhethe
Trade, Industry, and Competition Minister Parks Tau lauded the appointment as a historic milestone for South Africa
Entrepreneurship and youth: Why we need more Theo Baloyis
I’m concerned at the pedestrian uptake in youth entrepreneurial ingenuity across key sectors of the economy.
SAB Foundation and IDC launch Township Energy Fund to mitigate energy challenges for SMMEs
This fund was launched in recognising the negative impact of load shedding on small, medium and micro-sized enterprises and the additional costs associated with adopting alternative energy sources.
Nedbank CIB inks R1bn funding facility for IDC
The funding is aimed at supporting the IDC’s mandate to promote industrial capacity, foster an inclusive economy and maximise development impact across various sectors.
PICS: Couple allegedly forged bank statements to receive R53 million from Industrial Development Corporation
When the couple applied for R53 million funding from IDC, they were obliged to have R1 million in their company account, and they allegedly falsified bank statements.
With more and more emerging black industrialists, the future looks bright
OPINION: During the black industrialist era, we recognised that we needed to develop specialised industries and manufacturing belts to not only create employment and transfer technologies but also to reduce import dependency, writes Dr Anna Mokgokong.
The notion of a black industrialist requires a complete review, says Black Business Council
One of the fundamental flaws limiting this programme’s success is the lack of a clear and well-articulated description, coupled with a broader vision of what the notion of a black industrialist actually entails.
Africa is the big cheese – black industrialists need to look beyond the SA market
AfCFTA is expected to increase intra-African trade in transport services by nearly 50%, according to the latest estimates by the Economic Commission for Africa
Sars picking up crumbs from the cannabis table instead of pie
Hemp4life CEO Ben Sassman detailed the zero lack of funding for farming and processing of the industry to regulatory bottlenecks from the expensive water licence to stringent laws that make it illegal still to trade in hemp and cannabis products in the country.
IDC: Critical minerals are the future. We are focused on building partnerships that respond to challenges facing the sector
Can mining withstand the power of positive disruption?
Mining Exploration Fund applications being finalised
The Department of Mineral Resources and Energy and the Industrial Development Corporation signed a memorandum of agreement marking the establishment of the exploration fund.
A new path to sustainable industrial development amid climate change - IDC
The COP28 summit has put a firm spotlight on the damaging effects of climate change in developing economies including South Africa.
Run on Numbers: UIF Investment Portfolio - how does it benefit ordinary workers?
Does the Public Investment Commission (PIC) have a mandate from the private workers' Unemployment Insurance Fund (UIF) to invest or deviate from objective commercial investment decisions to assist the government in funding essential functions? By the close of the previous financial year to March 2023, the UIF was the second largest client of the PIC, after the Government Employees Pension Fund (GEPF), with 5. 14% of the portfolio of Assets under Management, which grew by 13% to R135 billion in the period under review.
Bitter battle for sugar as Robert Gumede-backed consortium demands answers from Industrial Development Corporation over Tongaat Hulett sale
Tongaat Hulett’s business rescue practitioners have now named Kagera Sugar of Tanzania as the winning bidder in a deal believed to be worth over R3 billion, but a consortium backed by SA billionaire Robert Gumede is crying foul over the decision.
Huge boost for energy, agriculture and mining sectors as IDC and Bank of China sign R10bn funding framework agreement
The IDC and the Bank of China have signed a R10 billion funding framework agreement in one of the key developments ahead of the BRICS Summit, which kicks off on Tuesday.
Funding for Tongaat Hulett is welcomed but not enough – NewCo
Newco, aspiring to take over embattled Tongaat Hulett, has said the post-commencement finance windfall from the Industrial Development Corporation to keep the mills running is not enough.
Need for tailored funding to support women industrialists
OPINION: We have seen that when women are empowered as business owners, society benefits since women business owners help communities flourish socially as well as economically, writes Emeka Umeche.
PIC, IDC stand to lose more than R1bn in Sunrise Energy
On the December 6, 2022, an application from Ilitha was heard in the Western Cape High Court, in which Ilitha applied to place the Sunrise Energy Group into business rescue.
Brkic’s collapsed Business Century Publishing must account for IDC Funding
The company ceased operation and was liquidated in or about October 2008 and the remainder of the funding has never been publicly accounted for.
MC Mining's shares tumble despite narrowing interim loss on higher coal prices
MC Mining’s share price plunged nearly 21 percent yesterday to R1. 10 despite the South Africa-focused coal mining firm saying it had narrowed its interim loss, boosted by higher coal prices.
Dube TradePort says it cannot comment on Mara Phones’ business management performance
Mara Phones went viral on social media last week after allegedly going bust despite receiving hundreds of millions of rand in funding.
Mara Phones staff at shop in the mall not told their supplier factory was being auctioned
Staff at Mara Phones in Maponya Mall, Johannesburg, had no knowledge that the Mara manufacturing plant in Durban’s Dube TradePort, which was the only local producer of smartphones, was closed and being auctioned.