Kwazulu Natal

KWAZULU NATAL

The KwaZulu-Natal IDC operates on two principles: value and development. Value is determined by funding and the subsequent output of the business; development is determined by the location of the business, the jobs it creates for communities in surrounding areas, and how it has affected those communities.

 

It is this approach to business that has made the KZN IDC so successful. It is the only regional office in the country that has two headquarters because of the large number of its investments. The Pietermaritzburg office sees to clients in the Midlands and surrounding areas, and the Durban office caters for businesses along the coastline.

 

The KZN IDC invests in five sectors: namely agro-processing, textiles, metals, chemicals, and health care, with a particular focus on developing business in rural areas and promoting youth entrepreneurship.

 

In 2012, the sectors that received the most investment from the KZN IDC were textiles (R235-million) and metals (R237-million). Some of its key projects include Kingsgate Clothing Group, which has over 6 000 employees; Somta Tools; and Prilla yarn manufacturers, of which the IDC owns 100%.

 

At the end of its financial year in March 2013, KZN IDC had approved just over R1-billion of funds to 38 companies. This led to the creation of 7 836 jobs. Because of its efforts, the office has received numerous awards, including the Partnerships Award in the 2013 FNB KZN Top Business Portfolio Awards.

Pat Moodley

Pat Moodley

Regional Manager

Physical address
Suite 2305, 23rd Floor
The Embassy Building
199 Anton Lembede Street
Durban

 

Postal Address
PO Box 2411
Durban
4000

 

Tel: 031 337 4455
Fax: 031 337 4790

CASE STUDIES

CEO REGIONAL ROADSHOW

The CEO Regional Roadshow got underway in KwaZulu Natal on 26 August 2016. Download the supplement for the event in PDF format.

SOMTA TO DRILL ITS COMPETITORS

With a move to tungsten carbide – and patents pending for its own design – Somta is a leading provider of cutting tools including drills, end mills, taps and reamers. The new material expands its client market, but the company is keeping all its options open and will still be producing high-speed steel tooling.

FRESH IDEAS SAVED MOZIMAX

The South African textiles industry has been hard hit by cheap imports from the East, but with some innovative plans and a cash injection from the Industrial Development Corporation, Mozimax is going full steam ahead

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