IDC to tackle unemployment

April 2011 News

The Industrial Development Corporation (IDC) has launched a R10 billion scheme, to run over five years, aimed at facilitating job creation and growing the economy. The announcement was made recently by CEO, Geoffrey Qhena, from the organisation’s head office in Sandton.

Outlining the scheme, Qhena said funding will be available at prime less 3%. This will be across all IDC mandated sectors to businesses which demonstrate economic merit and efficiency in new job creation. Applications will be considered from R1 million up to R1 billion.

Overall pricing reviewed

The IDC has also reviewed its current pricing model. Projects that have high development impact (including a combination of job creation, rural development, BBBEE, SMEs, etc) will benefit from a reduction of up to 1% on the loan facility. (The facility excludes those that may qualify under the R10 billion scheme.)

“It is still important that businesses have prospects of acceptable profitability to service their financial obligations,” said Qhena.

Additional assistance to companies in distress

Also, the IDC has set aside R750 million in total to assist those businesses that have been affected by the recent floods and drought. R500 million of this will be made available to assist businesses that fall within the IDC mandate and will be made available at prime less 3%. Applications for the flood and drought distress funds will only be considered for one year – starting 1 March 2011 to 31 March 2012 – although the repayment period may be over a number of years.

The remaining R250 million will be loaned to the Land Bank to assist those affected agricultural businesses (primary agriculture) that fall outside IDC’s mandate. The businesses must be viable and demonstrate that their distress was a result of the floods or drought.

For more information contact Mandla Mpangase, Industrial Development Corporation, +27 (0)11 269 3282, [email protected], www.idc.co.za

Further reading:

Reinstatement opportunity for ECSA registration
News
In 2023 the Engineering Council of South Africa (ECSA) announced a special opportunity for engineers in South Africa to reinstate their registration status if it had been cancelled. This exclusive offer is available until the end of August 2024.

Read more...

---

Africa Automation Indaba 2026
News
A bold new chapter in Africa’s industrial evolution begins with the launch of the Africa Automation Indaba, set to take place from 13 to 14 May 2026 at the prestigious Radisson Collection Hotel in Cape Town.

Read more...

---

EtherCAT Technology Group holds another Plug Fest
News
Recently, the EtherCAT Technology Group (ETG) once again invited its members to a Plug Fest, this time specifically targeting developers and manufacturers of devices with Safety over EtherCAT (FSoE) functionality.

Read more...

---

BMG powers up at Nampo 2025
News
The BMG team was highly prominent at this year’s Nampo agricultural show, held near Bothaville recently. This prestigious event, which is one of the largest agricultural exhibitions in the southern hemisphere, is a highlight for manufacturers and suppliers of farming equipment, as well as for farmers, families and the entire community.

Read more...

---

Epiroc rocks youth development programmes
News
Epiroc is not just building equipment - it’s building futures. Through its dynamic internship and learner programmes, the mining equipment and services specialist is shaping South Africa’s next generation of skilled professionals, equipping them with real-world experience, industry knowledge and the confidence to launch successful careers.

Read more...

---

Schneider Electric drives innovation in Africa
Schneider Electric South Africa News
Schneider Electric has officially launched its first Innovation Hub on the African continent, coinciding with the opening of its new regional headquarters in Midrand, South Africa.

Read more...

---

Schneider Electric South Africa certified as 2025 Top Employer
Schneider Electric South Africa News
Schneider Electric is proud to announce its South African operation has been awarded Top Employer 2025 certification by a global authority in HR excellence, Top Employers Institute.

Read more...

---

100 years of safety leadership
News
DEKRA Industrial and its adult-based education and occupational skills training division, the Institute of Learning (IOL) will showcase a milestone at A-OSH 2025, as the company celebrates DEKRA Global’s 100 years of safety leadership.

Read more...

---

Drakenstein Municipality aces Schneider Electric’s Sustainability Impact Award
Schneider Electric South Africa News
Drakenstein Municipality in the Western Cape has won a Sustainability Impact Award for Schneider Electric’s Anglophone Africa region, shining the spotlight on its unwavering commitment to sustainable leadership and its forward-thinking approach to ensuring a sustainable future for its coming generations.

Read more...

---

LH Marthinusen launches new industrial fan manufacturing and services factory
News
LH Marthinusen has launched its new industrial fan manufacturing and services factory in Ekurhuleni. THis is a major milestone for South African energy infrastructure growth.

Read more...

---