IDC

Tuesday, 15 July 2008 11:59

Overview

The Industrial Development Corporation of South Africa Ltd (IDC) is a self-financing, national Development Finance Institution (DFI). It was established in 1940 to promote economic growth and industrial development in South Africa.

At the IDC we recognise the importance of a dynamic private sector in securing and stimulating rapid and sustainable economic growth, creating employment and reducing poverty.

Our mandate includes the rest of the African continent and we are active throughout the entire region. We operate in a broad spectrum of industries and with our specialized knowledge and experience, are able to offer valid and appropriate financial assistance to a wide variety of individuals and companies.

Vision

To be the primary source of commercially sustainable industrial development and innovation to the benefit of South Africa and the rest of the African continent.

Mission

The IDC is a self financing national Development Finance Institution (DFI), 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 promotion 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.

Our objectives

* To contribute to the goals of the Shared and Accelerated Growth Initiative of South Africa (ASGISA) by providing financing that will stimulate job creation, investment activity and economic growth;

* To be a catalyst for economic change through our Leadership in Development Strategy;

* To develop economies that are viable, sustainable and environmentally and socially responsible;

* To develop Small and Medium Enterprises (SMEs);

* To accelerate Black Economic Empowerment (BEE);

* To further the aims of the New Partnership for Africa¹s Development (NEPAD); and

* To maintain our financial independence and apply sound business principles to everything we do.

Core strategies

* Serving as a catalyst for balanced, sustainable development;

* Identifying and supporting opportunities not addressed by the market;

* Providing risk capital in partnership with the private sector;

* Building on our skills and industry knowledge to add value to entrepreneurs and businesses; and

* Optimizing our financial management.

Our principles

We adhere to the highest standards of corporate governance and have incorporated Black Economic Empowerment policies into every level of our organisation. While recognised as a leading Financial Development Institution (DFI), we are entirely flexible in our approach to the rapidly changing business environments of Africa.

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