Media Room

News Articles

Calling on young entrepreneurs to 'Stand Up'

bulelani impactRole model Bulelani Nxumalo, the young founder of start-up company Umzungulu Steel ProjectsThe Industrial Development Corporation (IDC) has launched a media campaign targeting young entrepreneurs in support of its drive to grow the number of youth-owned enterprises in the country.

Highlighting role models such as Bulelani Nxumalo, the young founder of start-up company Umzungulu Steel Projects, the IDC's campaign calls on young entrepreneurs to "Stand Up" and take the lead in South Africa's industrial development.

Underpinning the campaign is the IDC's R1-billion Gro-E Youth Scheme, announced by IDC Chief Executive Geoffrey Qhena at the signing of the Youth Employment Accord in Soweto on 18 April last year.

The fund provides loans of R1-million or more to businesses that are creating new jobs in identified high-growth industries - and that are owned by people under the age of 35.

And as Bulelani Nxumalo found when he partnered with the IDC, this means more than just funding. The IDC works to make its partnerships work, providing world-class business mentoring, networking, HR and industry-specific support as part of the package.

The corporation has also signed a co-operation agreement with the Small Enterprise Finance Agency (sefa) and the National Youth Development Agency (NYDA) to provide easier access to finance and support services for young business people.

The IDC, sefa and the NYDA have a combined treasure chest of R2.7-billion earmarked for youth-owned enterprises, and are working together to ensure that the money goes to people like Bulelani Nxumalo, whose company now employs 25 people and supplies SABS-approved steel products to a 25 000-unit housing project in Kwa-Zulu Natal.

"It is important that we recognise the role that young people need to play in developing the country's economy," Qhena said in announcing the Gro-E Youth Scheme. "Young people are very enterprising, but access to funding has been one of their greatest challenges."

The IDC’s call for the youth to “Stand Up” encourages young entrepreneurs to become our country’s future industrialists and active participants in the economy.

Young Entrepreneurs Campaign

Our sectors

Our strategic business units work in three distinct areas: the services sector; within the mining and manufacturing sector; and in the agro-processing and new industries environment. MORE >

Our regional support

We make an impact across the country, helping develop new business, growing existing companies, boosting local economies and providing expertise wherever needed. MORE >

Annual report

Advancing Industrial Development covers our financial and non-financial strategy and performance aspects for 2015. MORE >

Our products

We offer a wide range of products from debt equity to providing working capital and equipment finance. MORE >

Our research

Stay informed and read our award-winning research reports, as our team keep tabs on the economic trends globally, regionally and locally. MORE >

Corporate responsibility

We are playing our part in improving the quality of life of all our communities, especially in rural and underdeveloped areas. MORE >

Doing business with us

This is your one-stop-shop where you can engage with us directly via our e-services. MORE >

Domestic Medium Term Note Programme

The Industrial Development Corporation of South Africa Ltd has established a ZAR15,000,000,000 Domestic Medium Term Note Programme (as amended and updated on 17 July 2012). You can read the memorandum here. MORE >

Report Fraud     Email     Call 0800 30 33 36     SMS 39640

PAIA Manual | Terms and Conditions | Employee Webmail | Contact us | Sitemap
© The IDC 2016, ALL RIGHTS NOT EXPRESSLY ALLOWED ARE RESERVED. P.O. Box 784055, Sandton, 2146, South Africa