IDC honours 12 champions of SA industry

IDC honours 12 champions of SA industry

As part of its 75th anniversary celebrations, the IDC honoured 12 long-standing clients, representing some of the champions of South African industry who have their roots with the Corporation.

The IDC was instrumental in establishing HulaminSustainable partnerships are crucial to the Industrial Development Corporation’s impact and success.

Over the last three-quarters of a century, the IDC has partnered with a range of businesses across various sectors to help grow the economy by driving industrialisation, creating jobs, promoting localisation and supporting regional integration.

On Monday, 19 October, as part of its 75th anniversary celebrations, the IDC honoured 12 of its long-standing clients, representing some of the many champions of South African industry who have their roots with the Corporation.

Presenting certificates to representatives of the companies during a gala dinner at the IDC’s head office in Johannesburg, IDC CEO Geoffrey Qhena stressed the importance of strengthening existing partnerships in order to build a competitive and highly industrialised economy.

“Dynamics in both the local and global economy may have changed since this organisation was formed, yet our belief in partnerships as a means to creating sustainable economic and social development remain the same,” Qhena said.

The 12 companies that were honoured – see below for snapshot profiles of each – are Pamodzi, Exxaro Resources, Mozal, Karsten Group, Videovision Entertainment, Ouma Rusks, Sasol, Hulamin, Amka Products, Aerosud Aviation, Guma Tourism Holdings, and Protea Hotels.

Ouma Rusks
The famous, much loved South African brand of rusks, made from a traditional local recipe, was developed in the small Eastern Cape town of Molteno in 1939 as Outspan Rusks, before changing its name to Ouma Rusks some months later. In 1940, the newly created Industrial Development Corporation (South Africa) gave its first start-up loan to Ouma Rusks, helping the fledgling company to expand its production capacity. Ouma became part of Fedfood in the 1970s, and since 1992 has been owned by Foodcorp (South Africa). Ouma Rusks are today consumed both locally and in the international market.

In the 1990s, when the IDC’s mandate was expanded to include investment in the rest of Africa, Mozal, an aluminium smelting plant in Mozambique, became the Corporation’s first project in the region. The IDC secured investors from around the globe to establish a major industrial enterprise in a country recovering from decades of civil war. Mozal has since grown to become one of Mozambique’s largest employers and a major contributor to its GDP.

Sasol is a major player in the petrochemicals industry, employing more than 30 000 employees in 37 countries across the globe. The IDC played a significant role in the establishment of Sasol.

Exxaro Resources
As one of the first black-owned coal mining companies to be listed on the JSE, Exxaro continues to play a critical role in adding value and shaping the country’s mining, particularly coal mining, industry.

Pamodzi Investment Holdings
Founded in 1996, Pamodzi was one the first black-owned companies to contribute towards the transformation of South Africa’s economic landscape. IDC funding enabled the company to diversify into key sectors of the economy, including resources, financial services and information technology.

Karsten Group
Supported by the IDC, Karsten Group owns and manages a number of fruit farms, each housing an independent production centre. One of South Africa’s leading grape growers, the group has established partnerships across the fruit growing regions of South Africa and the rest of the world.

Videovision Entertainment
Majority owned by Anant Singh, and a household name in both the local and global film industries, Videovision has produced some of the best films to come out of South Africa. Among these, Long Walk to Freedom, based on the inspirational autobiography of the late Nelson Mandela, is one of the fruits of the IDC’s long-standing partnership with Videovision.

As the largest single shareholder in JSE-listed Hulamin, the IDC was instrumental in establishing a company has grown to become one of the leading producers of extruded aluminium products in Africa.

Amka Products
The partnership between the IDC and Amka exemplifies the objectives of the IDC in its bid to support and create internationally competitive companies, namely: developing black industrialists, establishing new industrial capacity coupled with job creation and a positive social impact on surrounding communities, and increasing exports. Through this partnership, which has evolved over two decades, Amka has grown to become a major player in the personal care industry.

Aerosud Aviation
An established leader in the aviation industry, Aerosud is a smart supplier that specialises in adding value to partnerships through programme management, design, development and integrated manufacturing solutions. The IDC’s partnership has enabled the company to meet its ever growing order book.

Guma Tourism Holdings
Guma Tourism Holdings, funded by the IDC, is a 51% black shareholder in Tourvest Holdings, South Africa’s largest and most successful tourism group, with operations extending across the African continent.

Protea Hotels
Protea Hotels, now a subsidiary of Marriot International, is the leading hotel group in Africa. The IDC has partnered with Protea Hotels on a number of occasions over the past two decades, extending funding for both the construction of new hotels and the expansion and refurbishment of existing ones, as well as for a landmark BEE transaction involving AKA Capital in which full vesting was achieved within a remarkably short period of time.


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