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April 27, 2015 11:38 AM ET

Diversified Financial Services

Company Overview of The Industrial Development Corporation of South Africa Limited

Company Overview

The Industrial Development Corporation of South Africa Limited offers financial aid focusing on economic growth and industrial development of start-ups. The organization was founded in 1940 and is headquartered in Sandton, South Africa.

19 Fredman Drive

Sandown

Sandton,  2146

South Africa

Founded in 1940

804 Employees

Phone:

27 11 269 3000

Fax:

27 11 269 3116

Key Executives for The Industrial Development Corporation of South Africa Limited

Chief Executive Officer, President and Executive Director
Age: 48
Chief Financial Officer
Age: 55
Divisional Executive of Legal Services, General Counsel and Acting Company Secretary
Age: 48
Chief Risk Officer
Age: 54
Chief Economist and Divisional Executive of Professional Services
Age: 51
Compensation as of Fiscal Year 2014.

The Industrial Development Corporation of South Africa Limited Key Developments

IDC Presents at SNIA Data Storage Innovation Conference, Apr-07-2015

IDC Presents at SNIA Data Storage Innovation Conference, Apr-07-2015 . Venue: Hyatt Regency Hotel, 5101 Great America Parkway, Santa Clara, CA 95054, United States. Speakers: Amita Potnis, Research Manager, Eric Burgener, Research Director Storage, Philippe Goodwin, Research Director Storage, Sean Pike, Program Director for Governance, Risk, and Compliance (GRC) and eDiscovery.

Broadband Infraco Reportedly Planned To Be Sold

Broadband Infraco SOC Limited may be sold. South Africa is reportedly looking to divest its stake in Broadband Infraco. BusinessTech reported citing Rabelani Dagada, spokesperson for the Johannesburg Broadband Network Project (JBNP) as saying, “There is (speculation) in the ICT sector that even the national government is considering selling their own broadband company, due to intense competition.” According to the news report, the government is estimated to require as much as ZAR 100 billion to meet its ambitious broadband targets. Department of Public Enterprises holds 74% stake while The Industrial Development Corporation of South Africa Limited holds 26% stake in Broadband Infraco.

IDC Not To Sell Stakes In Listed Companies

Geoffrey Qhena, Chief Executive Officer of The Industrial Development Corporation of South Africa Limited (IDC) said that IDC will not sell stakes in the listed companies to raise funds to help in Eskom Holdings SOC Limited's cash crunch. Geoffrey further said that selling stakes in the listed investments will result into loss of income which is counter to IDC's objectives. The investments in listed companies provide money to IDC to fund new businesses. According to Barclays, government can raise upto ZAR 86 billion by selling stakes in 10 listed companies. IDC hold stakes in 8 of the 10 companies which are Sasol Ltd. (JSE:SOL), Kumba Iron Ore Ltd. (JSE:KIO), ArcelorMittal South Africa Limited (JSE:ACL), Sappi Limited (JSE:SAP), Life Healthcare Group Holdings Limited (JSE:LHC), Hulamin Limited (JSE:HLM), Merafe Resources Limited (JSE:MRF) and BHP Billiton plc (LSE:BLT). "A complete disposal is out of the picture. Out of the eight we are taking out nothing because they are key in the IDC’s life…. We have not been approached by anyone," Geoffrey Qhena said.

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