About IDCFeature title
The New Partnership for Africa’s Development (NEPAD) is a VISION and STRATEGIC FRAMEWORK FOR AFRICA’s RENEWAL. It is designed to address the current challenges facing the African continent. Issues such as the escalating poverty levels, underdevelopment and the continued marginalisation of Africa needed a new radical intervention, spearheaded by African leaders, to develop a new Vision that would guarantee Africa’s Renewal.
The following are the primary objectives of NEPAD:
- To eradicate poverty;
- To place African countries, both individually and collectively, on a path of sustainable growth and development;
- To halt the marginalisation of Africa in the globalisation process and enhance its full and beneficial integration into the global economy;
- To accelerate the empowerment of women
South Africa is one of the key drivers of Nepad and the South African Government views the IDC as a primary catalyst for sustainable industrial development in Africa.
Hence, we have expanded our geographical mandate beyond our own borders to include the entire African continent.
Our mandate
An important element of IDC’s mission is that of sustainable economic growth as well as industrial development and innovation of South Africana and the rest of the Africa continent. As a result of this, IDC is committed to ensuring that all NEPAD objectives are realized through:
- Targeting viable investment opportunities, maximise their potential for development while ensuring that enough returns are generated to secure our own sustainability.
-
Providing financial and technical assistance to sizeable African projects that exhibit significant economic merit.
These may be Greenfield, expansion or rehabilitation projects in a variety of sectors, namely: manufacturing, agriculture and agro processing, mining and mineral beneficiation, oil and gas, energy, tourism, information technology and telecommunications, transport infrastructure, transport services, health and education, and media and motion pictures.
The IDC has been formally introduced to relevant ministries, government agencies and business communities in numerous African countries, and as a co-signatory of the Memorandum of Understanding to Establish a Network of Development Finance Institutions for the SADC, we are active participants in the SADC Development Finance Sub-Committee.
Through the African Unit, the IDC has already commissioned a number of projects across SADC and other African countries that are developmental in nature and aimed at sustainable economic growth.
