IDC urged to up its ‘counter-cyclical’ game, as Patel sets R110bn funding target
Channel: Engineering News
Date: 2019-08-14

Trade, Industry and Competition Minister Ebrahim Patel is insisting that the Industrial Development Corporation (IDC) play a far more assertive counter-cyclical investment role in the flagging South African economy and has formally set a R110-billion, five-year disbursement target for the State-owned development finance institution (DFI). Meeting the target would require the IDC to make average yearly disbursements of R22-billion from 2020 to 2024 – a significant increase from the past five-year period when a total of R60.4-billion was disbursed at an average yearly rate of about R12-billion.