!Khi Solar One

Once completed, this concentrated solar tower power station will be one of the largest in the world. One of the benefits of this project relative to most other renewable energy projects is its ability to store energy and to deliver electricity to the grid during peak times.

Introducing the IDC

Performance highlights: achievements and challenges

Key achievements

  • Implementation of projects approved in previous years gained traction with funding disbursements increasing by 91% to R16.0 billion compared to 2012.
  • Maintained high levels of funding approvals, with R13.1 billion compared to R13.5 billion in 2012.
  • IDC was appointed to co-ordinate planning for the Saldanha-Northern Cape Corridor and the Green Economy Strategic Integrated Projects (SIPs) as part of government’s infrastructure development programme. The IDC is also co-ordinating opportunities for localisation across all SIPs. The business plan for the Saldanha-Northern Cape Corridor was completed during the year.
  • High uptake of special funding schemes with 81% of Unemployment Insurance Fund (UIF), 23% of the Manufacturing Competitiveness Enhancement Programme (MCEP), 35% of the Green Energy Efficiency Fund (GEEF), and 83% of the Agro-Processing Competitiveness Fund (APCF) committed by the end of the year.
  • Strong financial returns with group profits before tax of R2.0 billion compared to R3.3 billion in the previous year.


  • Despite continued high levels of funding, the direct impact of this funding on facilitating job creation declined with approximately 18 900 jobs expected to be created compared to 34 700 in the previous year. A significant portion of new funding approved was for acquisitions of companies which will contribute to job creation in downstream industries in the future. An increase in funding for capital intensive projects also impacted on job creation. Lower demand for funding from distressed companies resulted in a drop in the number of jobs expected to be saved reducing from 11 200 to approximately  
    4 000.
  • Cancellation of IDC participation in projects, especially for projects in the rest of Africa, resulting in lower levels of overall funding.
  • Rise in impairments (for the group) with a net movement of R1.7 billion compared to R1.1 billion in 2012.

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