Industrial Development Corporation of South Africa Ltd (IDC) , This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI)“This year the Industrial Development Corporation (2023)

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Industrial Development Corporation of South Africa Ltd (IDC) , This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI)“This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI), providing funding for manufacturing. We have come a long way in aiding the development of the South African economy during this time and have also assisted many companies in expanding and trading into the African continent,” says IDC’s KwaZulu-Natal (KZN) Regional Manager, Pat Moodley.The IDC’s key sectors in the province include the textiles, clothing, and footwear industry, which Moodley says is a key driver in the KZN economy, especially because of easy access to the Durban port for exports. Other economic sectors supported in this region include agro-processing, chemicals, plastics and medical products; wood and furniture products; automotive and transportation; machinery and equipment; electronics, basic metals, tourism, infrastructure, as well as energy. “With industrialisation comes development, which includes job creation and localisation. An additional element which we actively focus on is the growth and empowerment of black industrialists, and youth and women owned businesses,” explained Moodley.Much of the investment in the province is focused on stimulating localisation, with a view to replace imports. As an example, in terms of government policy, a certain percentage of vehicle manufacturing must include using locally produced components. The IDC has assisted a numberof first and second tier vehicle component manufacturers in this regard so that they can become globally competitive.Covid-19 interventions“The onset of Covid-19 negatively impacted businesses, not just locally, but on a global scale. As the IDC, we have worked with government and other DFIs in assisting businesses to recover and provide funding packages that will stimulate the economy,” says Moodley. “We have a range of funds and interventions in place to address Covid-19 related funding requirements, including assisting companies that have capacity to acquire and/or manufacture products needed to treat, curtail and combat the spread of the pandemic,” says Moodley. A comprehensive list of essential supplies that are eligible for funding is available from the Treasury Department.Other interventions offered by the corporation include general distress funding, which is available to businesses, provided they have a clear turnaround strategy. In addition to this, there is the Small Business Distressed Fund for SMEs with a trading history of more than 12 months and this fund is also available for emerging enterprises with a turnover of less than R50 million per annum (minimum loan amount of R1 million to a maximum R15 million).“At prime less 3% this is an attractive interest rate. The important thing is that businesses need to have a very clear turnaround plan over the next 12 to 24 months and must have been in a healthy financial position before Covid-19 started . The repayment term for this loan is 60 months,” explained Moodley. “There are a sizeable number of small businesses in KwaZulu-Natal that have the opportunity to access funding at competitive rates, however, sustainability is key,” he adds.Responsible LendingThe main difference between the IDC’s and other financial institution’s approaches to funding is that the corporation does not practice security-based lending, but rather considers the viability of the business and cash flows to service their loan repayments. The corporation however takes security for loans disbursed and is open to crowd funding with other financial institutions as a way to share the risk on transactions.“Our first consideration is the economic merit of each business; meaning it has to be sustainable, viable and profitable. In our application process, we go through what we call an initial assessment to see that the application meets all the basic criteria and mandate of the IDC. Once that stage is passed, we go into what we call a due diligence process which is a comprehensive assessment of the business including management, technical, financial, and marketing capacity,” explains Moodley.The IDC is a responsible lender and looks at compliance in all areas such as taxation, labour, health and safety, as well as environment. Of importance is ensuring that all necessary documentation and returns – including financial statements, tax certificates, labour returns, etc. are up to date.“We always advise clients or entrepreneurs to be transparent with us as our due diligence process will unpack any non-compliance,” advised Moodley. “Be realistic, remember you are projecting turnover, so you have to be able to quantify revenue streams and ensure that these are achievable,” he adds.The IDC has an online portal for applications. The KZN regional office is open Monday to Friday and staff are available to attend to enquiries or applications. “I suggest clients make an appointment, come sit with us and pitch their business proposals,” said Moodley. During the Covid-19 lockdown, the IDC went through a realignment process to streamline its service to clients. To reduce the number of touch points, the regional offices now handle funding proposals up to R15 million, proposals over these amounts are immediately referred to the relevant business unit at head office for further processing. This process means that the client deals with the relevant person from day one, significantly reducing the turnaround time for applications.If a project does not meet the IDC mandate it can be referred to a different funding institute. “Our responsibility as a development finance institution is to assist clients. If we can’t assist in line with our mandate, we will pass clients on to other relevant DFIs. We are always there to ensure that the client gets the right information,” adds Moodley.“We have some sizeable applications currently in our pipeline in KwaZulu-Natal. I think that there is a positive outlook for the province. I remain positive that as lockdown restrictions are eased, there will be a greater number of requests for more funding and we can get the economy going again,” concluded Moodley.PAT MOODLEY has been in the financial sector for over 30 years, where the desire to promote sustainable business development and economic growth has shaped his career.After completing his initial university degree, Moodley obtained a position in the banking sector focusing on financing of SMMEs and corporates. This experience, as well as working for other finance institutions, resulted in a position at the Industrial Development Corporation (IDC) where he has worked for the past 19 years.Moodley says, "Working for IDC is not only a job, but it is also a calling." He explained that he is driven by the desire to grow viable and sustainable businesses that have social impact; especially businesses that create jobs to counter the high rate of unemployment.Moodley says that he is motivated daily by the fact that once he reaches retirement age, he will be able to reflect on his achievements and the difference that he has contributed to enhance the business sector in KZN under his leadership at the IDC."I am inspired by making a difference. When you finance businesses and can see the growth in these entities, it gives a great sense of accomplishment. He added that when you finance a business that creates jobs, then families can enhance their lives and secure a better future for their children. By creating jobs, we are creating a sustainable country that ensures our future. Young and upcoming university graduates have a likelihood of being employed locally rather than moving out of the country."The commitment to his multifaceted role is apparent in the long and demanding hours that Moodley puts in to ensure that his clients' needs are met. He says, "Working at the IDC is not a standard eight to five job."Moodley describes himself as being very people oriented and has an open-door policy to both his employees and clients to discuss any issue relating to business and the work they do."Dealing with people is not always easy and it takes exceptional skills, especially where finances are involved. Part of my role is educating my team on how to manage client's expectations."The IDC KZN team is very passionate about development and constantly work to empower sustainable business entities. "We are customer focused and ensure that we provide a high level of service, our clients are extremely important as they are the foundation for the growth of our economy. Servicing clients may include identifying gaps in their business model that require attention or providing mentorship to assist their businesses to grow."The KwaZulu-Natal regional office's success has also grown out of the relationships it has forged with the public and private sectors, other development finance institutions, as well as commercial banks. In addition, Moodley says that although he and his team need to be very empathetic, they also need to be firm on the occasions that the IDC is unable to assist with applications for funding. He added that if a project is not sustainable there are valid reasons, and these are explained to the client in detail. We finance businesses that are sustainable and economically viable."Moodley's advice to anyone entering the finance industry is that they would need to have integrity and honesty. Although Moodley is very comfortable with his current achievements, he intends to ensure that the IDC continues to have an impact on the lives of people who require support. He believes that the KwaZulu-Natal province has many opportunities and it's vital to tap into these.Moodley is married with one son. During the weekends, he enjoys relaxing at home and often spends time cooking to unwind. When possible, he and his family enjoy travel to ensure that they spend quality time together.PAT MOODLEY has been in the financial sector for over 30 years, where the desire to promote sustainable business development and economic growth has shaped his career.After completing his initial university degree, Moodley obtained a position in the banking sector focusing on financing of SMMEs and corporates. This experience, as well as working for other finance institutions, resulted in a position at the Industrial Development Corporation (IDC) where he has worked for the past 19 years.Moodley says, "Working for IDC is not only a job, but it is also a calling." He explained that he is driven by the desire to grow viable and sustainable businesses that have social impact; especially businesses that create jobs to counter the high rate of unemployment.Moodley says that he is motivated daily by the fact that once he reaches retirement age, he will be able to reflect on his achievements and the difference that he has contributed to enhance the business sector in KZN under his leadership at the IDC."I am inspired by making a difference. When you finance businesses and can see the growth in these entities, it gives a great sense of accomplishment. He added that when you finance a business that creates jobs, then families can enhance their lives and secure a better future for their children. By creating jobs, we are creating a sustainable country that ensures our future. Young and upcoming university graduates have a likelihood of being employed locally rather than moving out of the country."The commitment to his multifaceted role is apparent in the long and demanding hours that Moodley puts in to ensure that his clients' needs are met. He says, "Working at the IDC is not a standard eight to five job."Moodley describes himself as being very people oriented and has an open-door policy to both his employees and clients to discuss any issue relating to business and the work they do."Dealing with people is not always easy and it takes exceptional skills, especially where finances are involved. Part of my role is educating my team on how to manage client's expectations."The IDC KZN team is very passionate about development and constantly work to empower sustainable business entities. "We are customer focused and ensure that we provide a high level of service, our clients are extremely important as they are the foundation for the growth of our economy. Servicing clients may include identifying gaps in their business model that require attention or providing mentorship to assist their businesses to grow."The KwaZulu-Natal regional office's success has also grown out of the relationships it has forged with the public and private sectors, other development finance institutions, as well as commercial banks. In addition, Moodley says that although he and his team need to be very empathetic, they also need to be firm on the occasions that the IDC is unable to assist with applications for funding. He added that if a project is not sustainable there are valid reasons, and these are explained to the client in detail. We finance businesses that are sustainable and economically viable."Moodley's advice to anyone entering the finance industry is that they would need to have integrity and honesty. Although Moodley is very comfortable with his current achievements, he intends to ensure that the IDC continues to have an impact on the lives of people who require support. He believes that the KwaZulu-Natal province has many opportunities and it's vital to tap into these.Moodley is married with one son. During the weekends, he enjoys relaxing at home and often spends time cooking to unwind. When possible, he and his family enjoy travel to ensure that they spend quality time together.

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Industrial Development Corporation of South Africa Ltd (IDC) , This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI)“This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI), providing funding for manufacturing. We have come a long way in aiding the development of the South African economy during this time and have also assisted many companies in expanding and trading into the African continent,” says IDC’s KwaZulu-Natal (KZN) Regional Manager, Pat Moodley.The IDC’s key sectors in the province include the textiles, clothing, and footwear industry, which Moodley says is a key driver in the KZN economy, especially because of easy access to the Durban port for exports. Other economic sectors supported in this region include agro-processing, chemicals, plastics and medical products; wood and furniture products; automotive and transportation; machinery and equipment; electronics, basic metals, tourism, infrastructure, as well as energy. “With industrialisation comes development, which includes job creation and localisation. An additional element which we actively focus on is the growth and empowerment of black industrialists, and youth and women owned businesses,” explained Moodley.Much of the investment in the province is focused on stimulating localisation, with a view to replace imports. As an example, in terms of government policy, a certain percentage of vehicle manufacturing must include using locally produced components. The IDC has assisted a numberof first and second tier vehicle component manufacturers in this regard so that they can become globally competitive.Covid-19 interventions“The onset of Covid-19 negatively impacted businesses, not just locally, but on a global scale. As the IDC, we have worked with government and other DFIs in assisting businesses to recover and provide funding packages that will stimulate the economy,” says Moodley. “We have a range of funds and interventions in place to address Covid-19 related funding requirements, including assisting companies that have capacity to acquire and/or manufacture products needed to treat, curtail and combat the spread of the pandemic,” says Moodley. A comprehensive list of essential supplies that are eligible for funding is available from the Treasury Department.Other interventions offered by the corporation include general distress funding, which is available to businesses, provided they have a clear turnaround strategy. In addition to this, there is the Small Business Distressed Fund for SMEs with a trading history of more than 12 months and this fund is also available for emerging enterprises with a turnover of less than R50 million per annum (minimum loan amount of R1 million to a maximum R15 million).“At prime less 3% this is an attractive interest rate. The important thing is that businesses need to have a very clear turnaround plan over the next 12 to 24 months and must have been in a healthy financial position before Covid-19 started . The repayment term for this loan is 60 months,” explained Moodley. “There are a sizeable number of small businesses in KwaZulu-Natal that have the opportunity to access funding at competitive rates, however, sustainability is key,” he adds.Responsible LendingThe main difference between the IDC’s and other financial institution’s approaches to funding is that the corporation does not practice security-based lending, but rather considers the viability of the business and cash flows to service their loan repayments. The corporation however takes security for loans disbursed and is open to crowd funding with other financial institutions as a way to share the risk on transactions.“Our first consideration is the economic merit of each business; meaning it has to be sustainable, viable and profitable. In our application process, we go through what we call an initial assessment to see that the application meets all the basic criteria and mandate of the IDC. Once that stage is passed, we go into what we call a due diligence process which is a comprehensive assessment of the business including management, technical, financial, and marketing capacity,” explains Moodley.The IDC is a responsible lender and looks at compliance in all areas such as taxation, labour, health and safety, as well as environment. Of importance is ensuring that all necessary documentation and returns – including financial statements, tax certificates, labour returns, etc. are up to date.“We always advise clients or entrepreneurs to be transparent with us as our due diligence process will unpack any non-compliance,” advised Moodley. “Be realistic, remember you are projecting turnover, so you have to be able to quantify revenue streams and ensure that these are achievable,” he adds.The IDC has an online portal for applications. The KZN regional office is open Monday to Friday and staff are available to attend to enquiries or applications. “I suggest clients make an appointment, come sit with us and pitch their business proposals,” said Moodley. During the Covid-19 lockdown, the IDC went through a realignment process to streamline its service to clients. To reduce the number of touch points, the regional offices now handle funding proposals up to R15 million, proposals over these amounts are immediately referred to the relevant business unit at head office for further processing. This process means that the client deals with the relevant person from day one, significantly reducing the turnaround time for applications.If a project does not meet the IDC mandate it can be referred to a different funding institute. “Our responsibility as a development finance institution is to assist clients. If we can’t assist in line with our mandate, we will pass clients on to other relevant DFIs. We are always there to ensure that the client gets the right information,” adds Moodley.“We have some sizeable applications currently in our pipeline in KwaZulu-Natal. I think that there is a positive outlook for the province. I remain positive that as lockdown restrictions are eased, there will be a greater number of requests for more funding and we can get the economy going again,” concluded Moodley.PAT MOODLEY has been in the financial sector for over 30 years, where the desire to promote sustainable business development and economic growth has shaped his career.After completing his initial university degree, Moodley obtained a position in the banking sector focusing on financing of SMMEs and corporates. This experience, as well as working for other finance institutions, resulted in a position at the Industrial Development Corporation (IDC) where he has worked for the past 19 years.Moodley says, "Working for IDC is not only a job, but it is also a calling." He explained that he is driven by the desire to grow viable and sustainable businesses that have social impact; especially businesses that create jobs to counter the high rate of unemployment.Moodley says that he is motivated daily by the fact that once he reaches retirement age, he will be able to reflect on his achievements and the difference that he has contributed to enhance the business sector in KZN under his leadership at the IDC."I am inspired by making a difference. When you finance businesses and can see the growth in these entities, it gives a great sense of accomplishment. He added that when you finance a business that creates jobs, then families can enhance their lives and secure a better future for their children. By creating jobs, we are creating a sustainable country that ensures our future. Young and upcoming university graduates have a likelihood of being employed locally rather than moving out of the country."The commitment to his multifaceted role is apparent in the long and demanding hours that Moodley puts in to ensure that his clients' needs are met. He says, "Working at the IDC is not a standard eight to five job."Moodley describes himself as being very people oriented and has an open-door policy to both his employees and clients to discuss any issue relating to business and the work they do."Dealing with people is not always easy and it takes exceptional skills, especially where finances are involved. Part of my role is educating my team on how to manage client's expectations."The IDC KZN team is very passionate about development and constantly work to empower sustainable business entities. "We are customer focused and ensure that we provide a high level of service, our clients are extremely important as they are the foundation for the growth of our economy. Servicing clients may include identifying gaps in their business model that require attention or providing mentorship to assist their businesses to grow."The KwaZulu-Natal regional office's success has also grown out of the relationships it has forged with the public and private sectors, other development finance institutions, as well as commercial banks. In addition, Moodley says that although he and his team need to be very empathetic, they also need to be firm on the occasions that the IDC is unable to assist with applications for funding. He added that if a project is not sustainable there are valid reasons, and these are explained to the client in detail. We finance businesses that are sustainable and economically viable."Moodley's advice to anyone entering the finance industry is that they would need to have integrity and honesty. Although Moodley is very comfortable with his current achievements, he intends to ensure that the IDC continues to have an impact on the lives of people who require support. He believes that the KwaZulu-Natal province has many opportunities and it's vital to tap into these.Moodley is married with one son. During the weekends, he enjoys relaxing at home and often spends time cooking to unwind. When possible, he and his family enjoy travel to ensure that they spend quality time together.PAT MOODLEY has been in the financial sector for over 30 years, where the desire to promote sustainable business development and economic growth has shaped his career.After completing his initial university degree, Moodley obtained a position in the banking sector focusing on financing of SMMEs and corporates. This experience, as well as working for other finance institutions, resulted in a position at the Industrial Development Corporation (IDC) where he has worked for the past 19 years.Moodley says, "Working for IDC is not only a job, but it is also a calling." He explained that he is driven by the desire to grow viable and sustainable businesses that have social impact; especially businesses that create jobs to counter the high rate of unemployment.Moodley says that he is motivated daily by the fact that once he reaches retirement age, he will be able to reflect on his achievements and the difference that he has contributed to enhance the business sector in KZN under his leadership at the IDC."I am inspired by making a difference. When you finance businesses and can see the growth in these entities, it gives a great sense of accomplishment. He added that when you finance a business that creates jobs, then families can enhance their lives and secure a better future for their children. By creating jobs, we are creating a sustainable country that ensures our future. Young and upcoming university graduates have a likelihood of being employed locally rather than moving out of the country."The commitment to his multifaceted role is apparent in the long and demanding hours that Moodley puts in to ensure that his clients' needs are met. He says, "Working at the IDC is not a standard eight to five job."Moodley describes himself as being very people oriented and has an open-door policy to both his employees and clients to discuss any issue relating to business and the work they do."Dealing with people is not always easy and it takes exceptional skills, especially where finances are involved. Part of my role is educating my team on how to manage client's expectations."The IDC KZN team is very passionate about development and constantly work to empower sustainable business entities. "We are customer focused and ensure that we provide a high level of service, our clients are extremely important as they are the foundation for the growth of our economy. Servicing clients may include identifying gaps in their business model that require attention or providing mentorship to assist their businesses to grow."The KwaZulu-Natal regional office's success has also grown out of the relationships it has forged with the public and private sectors, other development finance institutions, as well as commercial banks. In addition, Moodley says that although he and his team need to be very empathetic, they also need to be firm on the occasions that the IDC is unable to assist with applications for funding. He added that if a project is not sustainable there are valid reasons, and these are explained to the client in detail. We finance businesses that are sustainable and economically viable."Moodley's advice to anyone entering the finance industry is that they would need to have integrity and honesty. Although Moodley is very comfortable with his current achievements, he intends to ensure that the IDC continues to have an impact on the lives of people who require support. He believes that the KwaZulu-Natal province has many opportunities and it's vital to tap into these.Moodley is married with one son. During the weekends, he enjoys relaxing at home and often spends time cooking to unwind. When possible, he and his family enjoy travel to ensure that they spend quality time together. (2)

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Stimulating Industry in KwaZulu-Natal

“This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI), providing funding for manufacturing. We have come a long way in aiding the development of the South African economy during this time and have also assisted many companies in expanding and trading into the African continent,” says IDC’s KwaZulu-Natal (KZN) Regional Manager, Pat Moodley.

The IDC’s key sectors in the province include the textiles, clothing, and footwear industry, which Moodley says is a key driver in the KZN economy, especially because of easy access to the Durban port for exports. Other economic sectors supported in this region include agro-processing, chemicals, plastics and medical products; wood and furniture products; automotive and transportation; machinery and equipment; electronics, basic metals, tourism, infrastructure, as well as energy. “With industrialisation comes development, which includes job creation and localisation. An additional element which we actively focus on is the growth and empowerment of black industrialists, and youth and women owned businesses,” explained Moodley.

Much of the investment in the province is focused on stimulating localisation, with a view to replace imports. As an example, in terms of government policy, a certain percentage of vehicle manufacturing must include using locally produced components. The IDC has assisted a numberof first and second tier vehicle component manufacturers in this regard so that they can become globally competitive.

Covid-19 interventions
“The onset of Covid-19 negatively impacted businesses, not just locally, but on a global scale. As the IDC, we have worked with government and other DFIs in assisting businesses to recover and provide funding packages that will stimulate the economy,” says Moodley. “We have a range of funds and interventions in place to address Covid-19 related funding requirements, including assisting companies that have capacity to acquire and/or manufacture products needed to treat, curtail and combat the spread of the pandemic,” says Moodley. A comprehensive list of essential supplies that are eligible for funding is available from the Treasury Department.

Other interventions offered by the corporation include general distress funding, which is available to businesses, provided they have a clear turnaround strategy. In addition to this, there is the Small Business Distressed Fund for SMEs with a trading history of more than 12 months and this fund is also available for emerging enterprises with a turnover of less than R50 million per annum (minimum loan amount of R1 million to a maximum R15 million).

“At prime less 3% this is an attractive interest rate. The important thing is that businesses need to have a very clear turnaround plan over the next 12 to 24 months and must have been in a healthy financial position before Covid-19 started . The repayment term for this loan is 60 months,” explained Moodley. “There are a sizeable number of small businesses in KwaZulu-Natal that have the opportunity to access funding at competitive rates, however, sustainability is key,” he adds.

Responsible Lending
The main difference between the IDC’s and other financial institution’s approaches to funding is that the corporation does not practice security-based lending, but rather considers the viability of the business and cash flows to service their loan repayments. The corporation however takes security for loans disbursed and is open to crowd funding with other financial institutions as a way to share the risk on transactions.

“Our first consideration is the economic merit of each business; meaning it has to be sustainable, viable and profitable. In our application process, we go through what we call an initial assessment to see that the application meets all the basic criteria and mandate of the IDC. Once that stage is passed, we go into what we call a due diligence process which is a comprehensive assessment of the business including management, technical, financial, and marketing capacity,” explains Moodley.

The IDC is a responsible lender and looks at compliance in all areas such as taxation, labour, health and safety, as well as environment. Of importance is ensuring that all necessary documentation and returns – including financial statements, tax certificates, labour returns, etc. are up to date.

“We always advise clients or entrepreneurs to be transparent with us as our due diligence process will unpack any non-compliance,” advised Moodley. “Be realistic, remember you are projecting turnover, so you have to be able to quantify revenue streams and ensure that these are achievable,” he adds.

The IDC has an online portal for applications. The KZN regional office is open Monday to Friday and staff are available to attend to enquiries or applications. “I suggest clients make an appointment, come sit with us and pitch their business proposals,” said Moodley. During the Covid-19 lockdown, the IDC went through a realignment process to streamline its service to clients. To reduce the number of touch points, the regional offices now handle funding proposals up to R15 million, proposals over these amounts are immediately referred to the relevant business unit at head office for further processing. This process means that the client deals with the relevant person from day one, significantly reducing the turnaround time for applications.

If a project does not meet the IDC mandate it can be referred to a different funding institute. “Our responsibility as a development finance institution is to assist clients. If we can’t assist in line with our mandate, we will pass clients on to other relevant DFIs. We are always there to ensure that the client gets the right information,” adds Moodley.

“We have some sizeable applications currently in our pipeline in KwaZulu-Natal. I think that there is a positive outlook for the province. I remain positive that as lockdown restrictions are eased, there will be a greater number of requests for more funding and we can get the economy going again,” concluded Moodley.

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Full Name of Company: The Industrial Development Corporation of South Africa Ltd (IDC)
Nature of Business: Development Finance Institution.
Holding Company: Self-financing corporation owned by the South African Government
Date Established: 1940

VISION
To be the primary driving force of commercially sustainable industrial development and innovation for the benefit of South Africa and the rest of Africa.

KEY PERSONNEL
Regional Manager KZN: Pat Moodley

CONTACT DETAILS
KwaZulu-Natal Durban Office:
Physical Address: Office 2101, 21st Floor,
The Embassy Building, 199 Anton Lembede Street, Durban, 4001
Postal Address: P.O. Box 2411, Durban, 4000
Tel: +27 (0)31 337 4455
Website: www.idc.co.za

KwaZulu-Natal Pietermaritzburg Office:
Physical Address: 1st Floor, ABSA House, 15 Chatterton
Road, Pietermaritzburg
Tel: +27 (0)33 328 2560

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Industrial Development Corporation of South Africa Ltd (IDC)

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This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI)

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Industrial Development Corporation of South Africa Ltd (IDC) , This year the Industrial Development Corporation (IDC) celebrates 80 years of existence in its role as a Development Funding Institution (DFI)“This year the Industrial Development Corporation (2023)

Stimulating Industry in KwaZulu-Natal

Industrial Development Corporation of South Africa Ltd (IDC)

Pat Moodley

​

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