The Industrial Development Corporation (IDC) notes recent public discussion, scrutiny and stakeholder comments regarding its funding decisions, due diligence and evaluation processes, internal systems and its role in advancing transformation and inclusive economic participation.
As South Africa's leading state-owned development finance institution, IDC recognizes the importance of these conversations. We acknowledge the concerns raised and reaffirm our commitment to listen, engage constructively and continually strengthen the way we deliver our mandate.
Committed to our developmental mandate
Established through an Act of Parliament in 1940, IDC's mandate is clear and enduring: to promote sustainable industrialization that supports jobs and drives inclusive economic growth. Since the advent of democracy in 1994, transformation has been a central pillar of this mandate.
What should I follow WhatsApp | Linkedin for latest headlines
This commitment is reaffirmed in IDC's Corporate Plan 2025/26-2027/28, which places inclusive growth, transformation and support for disadvantaged entrepreneurs at the center of the Corporation's strategic focus.
Change through our funding results
IDC prioritizes support for Black entrepreneurs and Black-owned businesses; empowers women and youth; pursues broad-based ownership models (including employee and community ownership); and promotes industrialization through localization, profit and job creation.
Over the past two fiscal years, IDC has prioritized transformation-focused funding. In this period, black-owned businesses and black industrialists were major recipients. IDC funding (in terms of volume and value), accounting for about 88% of the total funding allocation in both the years.
In 2024/25, total transition funding approvals…