Media Room

News Articles

DFI’s will determine success of Black Industrialists Program - Black Management Forum

“The success of government’s initiative to create 100 black industrialists, is largely dependent on the support that development finance institutions (DFI’s) will provide emerging industrialists over the next five years”, says Black Management Forum (BMF), Gauteng branch chairperson, Langalethu Manqele.

According to Manqele, DFI’s such as the IDC, PIC, Sefa, Land Bank and DBSA owe it to the dti’s Black Industrialists Program (BIP) to broaden the empowerment beneficiary base. “These institutions have the data of all the people that benefited from the first BEE deals created in the post -Apartheid era. We have to guard against the usual suspects hijacking the BIP,” said Manqele.

Speaking at a recent BMF summit held to explore opportunities for black-owned firms in the state’s drive to beneficiate local resources, he further appealed to DFI’s to broaden the beneficiary base and allow for creation of a new breed of black industrialists.

“The first wave of Black Economic Empowerment (BEE) merely created a few black players that have done little to influence or change the economic and social landscape of our country. The focus now is for institutions such as IDC to help us to recover lost ground and create a new breed of black industrialists,” said Manqele.

Manqele further applauded Economic Development Minister Ebrahim Patel for making bold policy decisions that he believes were key to unlocking black entrepreneurship. Delivering his budget speech in Parliament in March 2015, Patel committed R23bn towards the development of South Africa’s black industrialists. Mr Patel also announced a range of competition‚ trade and infrastructure initiatives intended to deepen industrialisation and localisation. The measures included the establishment of an independent panel of steel-industry experts that would advise on a more competitive steel price for downstream users in order to stimulate local demand for steel.

Areas of focus included deepening the gains of the infrastructure programme; making measurable progress on the big-build programmes; advancing the country’s growing economic integration with the rest of the continent; and working with local companies and sectors to address the slowdown in demand.

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