IDC moves to accelerate black industrialist funding with R7.4bn target

The Industrial Development Corporation (IDC) is budgeting to pick up the pace of lending to black industrialists during its 2017/18 financial year, during which it aims to increase approvals to around R7.4-billion, from R4.7-billion in 2016/17. Divisional executive for agro, infrastructure and new industries Lizeka Matshekga tells Engineering News Online that the aim is to “accelerate” the IDC’s funding of black industrialists this year, following the official unveiling of the multibillion-rand programme by Economic Development Minister Ebrahim Patel in 2015.