Confirmation of Accuracy and Fair Presentation

Integrated Report for the 2012/2013 financial year-end

I hereby acknowledge that the integrated report of Industrial Development Corporation of South Africa Limited (the IDC) has been submitted to independent auditors for auditing in terms of section 55(1)(c) of the PFMA.

I acknowledge my responsibility for the accuracy of the accounting records and the fair presentation of the financial statements and confirm, to the best of my knowledge and belief, the following:

Annual Financial Statements

  • The financial statements have been prepared in accordance with IFRS as prescribed in the National Treasury Framework and relevant guidelines specified/issued by the National Treasury
  • All amounts appearing in the integrated report and information in the integrated report are consistent with the financial statements submitted to the auditors for audit purposes

Performance Information

  • The performance information fairly reflects the operations, actual output against planned targets for performance indicators as per the strategic and annual performance plan of the IDC for the financial year ended 31 March 2013
  • Has been reported on in accordance with the requirements of the guidelines on annual reports as issued by National Treasury
  • A system of internal control has been designed to provide reasonable assurance as to the integrity and reliability of performance information

Human Resource Management

  • The human resource information contained in the respective tables in the integrated report, fairly reflects the information of the IDC for the financial year ended 31 March 2013


  • The integrated report is complete and accurate
  • The integrated report is free from any omissions

MG Qhena
Chief Executive Officer

27 June 2013

MW Hlahla
Chairperson of the Board

27 June 2013

Coega Dairy Holdings

The IDC has identified increased competition in the dairy value chain and import substitution in the cheese industry as key sector development goals. We also singled out the need for increased farmer (and specifically B-BBEE) participation in dairy value-adding initiatives.

Windtown Lagoon Resort 

The newly built Windtown Lagoon Resort and Spa reflects the IDC’s focus to funding community-based projects that have potential to create employment opportunities in far-flung regions.

R13.1 billion
R16.0 billion
18 922
3 950
© The IDC 2013. All rights not expressly allowed are reserved. P.O. Box 784055, Sandton, 2146, South Africa