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Company Overview of The Industrial Development Corporation of South Africa Limited
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
Founded in 1940
Key Executives for The Industrial Development Corporation of South Africa Limited
Chief Executive Officer, President and Executive Director
Divisional Executive of Legal Services, General Counsel and Acting Company Secretary
Chief Economist and Divisional Executive of Professional Services
Compensation as of Fiscal Year 2014.
The Industrial Development Corporation of South Africa Limited Key Developments
Broadband Infraco Reportedly Planned To Be Sold
Feb 23 15
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
Jan 15 15
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.
IDC Presents at Citi China Investor Conference 2014, Nov-06-2014
Nov 1 14
IDC Presents at Citi China Investor Conference 2014, Nov-06-2014 . Venue: Grand Hyatt, Macau, China. Speakers: Sean Pien, Taiwan Country Manager.
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