The Industrial Development Corporation actively promotes investments in rural and township areas, taking on the challenge of the under-developed areas as well as that of the urban-rural economic divide.
South Africa’s nine provinces – the Eastern Cape, the Free State, Gauteng, KwaZulu-Natal, Limpopo, Mpumalanga, the Northern Cape, North West, and the Western Cape – each have their own legislature, premier and executive council – and distinct landscape, population, and economy.
To cater for prospective business partners and entrepreneurs living in each province, the Industrial Development Corporation (IDC) has regional and satellite offices across the country, from busy hub of KwaZulu-Natal to the sprawling and somewhat empty Northern Cape.
These offices develop strategies to enable the IDC to maximise its impact in each province.
Five areas are identified in the framework: energy, transport, communication, water, and housing. Sustained public investment in these sectors will create jobs in construction, operation and infrastructure maintenance.
Key actions and times for implementing the industrial policy are set out in detail in the IPAP, which has three main components:
- A range of sectorial actions;
- Cross-cutting actions important to industrial policy; and,
- Measures to improve the government’s organisation and capacity to implement industrial policy.
There is an emphasis on labour-absorbing production and services sectors, increasing poorer people and regions’ access to the economy, and building South Africa’s contribution to industrial development in the rest of Africa.
Decentralisation decision-making, implementation and providing services to all its regions have significantly improved the IDC’s ability to meet its key mandates and eliminate one-size-fits-all approaches to industrial development.