Industrial Development Corporation (IDC)
|Postal||PO Box 784055, Sandton, 2146|
|Physical||19 Fredman Drive, Sandton, Johannesburg|
|Tel||011 269 3000|
The Industrial Development Corporation of South Africa Limited (IDC) was established in 1940 by Parliament’s Industrial Development Corporation Act No 22 of 1940.
The corporation was established to spearhead the development of domestic industrial capacity, especially in view of the shortage of manufactured goods experienced as a result of the disruption of trade between Europe and South Africa during the Second World War.
Since its establishment, the corporation has been instrumental in implementing South Africa’s industrial development policy, establishing some of the industries that have since become cornerstones of the country’s manufacturing sector. These include the petrol-chemicals, mining and mineral beneficiation industries, fabricated metals, agro-industries, and clothing and textiles among others.
Although our priorities and focus areas have evolved over the years in line with the policy direction of our shareholder (Government), the IDC remains committed to its objectives of developing South Africa and the continent’s industrial capacity and, in doing so, playing a major role in facilitating job creation.
By strengthening industrial capacity, the corporation achieves specific outcomes, the most important of which is to facilitate the creation of employment opportunities through companies we fund. The IDC remains committed to promoting sustainable growth and increasing sectoral diversity, thereby boosting local production of goods.
In addition to job creation, IDC funding helps to promote regional development as well as economic integration including advancing Black Economic Empowerment initiatives. Furthermore, our role in the rest of Africa remains to proactively develop and implement strategies that create linkages and integrate value chains across the continent. Through our subsidiary sefa, the Corporation has played a critical role in promoting entrepreneurial development by supporting Small Medium Enterprises (SMES).