Media Room

Press Releases 2011

IDC funds Clinic in Cosmo City

The state-owned Industrial Development Corporation (IDC) of South Africa Limited has provided R8 million to fund a clinic in Cosmo City, a national symbol of mixed development in Johannesburg.

The IDC has funded the Cosmo City Clinic through its Township and Rural Hospital Scheme, a funding vehicle within the corporation to develop independent black-owned and managed hospitals and clinics, serving lower income and previously disadvantaged clients.

The Clinic was officially opened on Tuesday, January 26, 2010 by the Honourable Minister of Health Dr Aaron Motsoaledi.

IDC Head of Healthcare and Education Unit Zora Madikizela revealed that the Clinic will provide Cosmo City, with an estimated population of 50 000 people, services that are accessible within walking distance and holistic in terms of providing all aspects of primary healthcare.

“This facility could not have come at a better time when government was renewing its efforts in the fight against the HIV/AIDS and improving the health care system in general,” Madikizela said.

“We are supporting the government in these initiatives especially because health features prominently in government’s priorities for the next five years. “The IDC is looking at funding similar projects in some parts of the country especially in rural areas and townships.”

One of the Directors of the Cosmo City Clinic Dr Johan Botha had this to say;

“The Centre will provide the opportunity for health care professionals to deliver affordable, quality medical services. It is our mission to replicate these facilities in a number of low to middle income areas.”

About the IDC Township and Rural Hospital Scheme:

  • It is for the development of new hospitals and clinics, or expansion of existing facilities in rural and township areas in South Africa. The acquisition of equipment must be linked to the new expansion of bed capacity.
  • Maximum IDC transaction limit under the Scheme of R75 million per hospital site, and R100 million per applicant;
  • IDC could provide up to 95% of the required funding;
  • Black ownership in terms of the Act of at least 50% plus 1 share
  • The total number of existing plus new beds funded at the licensed site may not exceed 150.

For further information contact:

Mphilo Dlamini
IDC Publicity Manager
Tel: +27 11 269 3293
Cell:+27 71 224 6503

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