IDC results show it provided R11.5 billion in funding to businesses in a year

The Industrial Development Corporation (IDC) released its results for the year ended on 31 March 2015.

The IDC approved funding to the value of R11.5 billion and paid out R10.9 billion to help businesses expand.

It facilitated the creation of over 20 000 jobs during the year.

The Money Show’s Bruce Whitfield interviewed IDC CEO Geoffrey Qhena.

Scroll down for quotes from the audio below.

Our funds come from investments we’ve made. We also raise funding in the bond market.

Geoffrey Qhena

We can invest more than we’re doing now. But it’ll have to be into companies that are sustainable.

Geoffrey Qhena

Our bond holders expect us to repay them. We’re not merely ticking transformation boxes.

Geoffrey Qhena

We write off just under 17% of the investments we make.

Geoffrey Qhena

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Pratley CEO tempts fate, recreates suspended bulldozer stunt on Friday the 13th

Pratley CEO tempts fate, recreates suspended bulldozer stunt on Friday the 13th

"I will still gladly bet my life on the quality of our product," says Pratley Group CEO Kim Pratley.

Beira (Mozambique)… where beer is cheaper than tea (despite ever-present China)

Beira (Mozambique)… where beer is cheaper than tea (despite ever-present China)

The Money Show’s Bruce Whitfield interviews distinguished Africa correspondent Lee Kasumba, who is in Mozambique’s central city.

3 experts agree: Sasol is an excellent investment right now

3 experts agree: Sasol is an excellent investment right now

It seldom happens that the experts agree. They do now. Sasol is, currently, one of the best shares you can buy.

Why you should invest in Sasol, Aspen and MTN

Why you should invest in Sasol, Aspen and MTN

Clive Ramathibela-Smith, CIO at Clivera, discusses what he believes are the best investments on the JSE right now.

Why Sasol is a great investment (it’s because of, NOT despite, the oil price)

Why Sasol is a great investment (it’s because of, NOT despite, the oil price)

The market seems to believe oil will stay cheap forever. It can’t. And right now Sasol shares are very, very cheap.

Buy Sasol shares (despite very cheap oil) – market analyst

Buy Sasol shares (despite very cheap oil) – market analyst

Sasol shares are an excellent investment because of (not despite!) oil prices that won’t stay this low forever.

Popular articles
Are you ready to 'Walk the Talk' with 702 & MTN?

Are you ready to 'Walk the Talk' with 702 & MTN?

The annual MTN Walk the Talk with 702 takes place on 22 July this year, under the theme 'Walking for South Africa'.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

'More black farm workers are killed than white farm workers'  - Johan Burger

'More black farm workers are killed than white farm workers'  - Johan Burger

Following a spate of farm murders in the Cape, the policing expert says there aren't enough stats available on farm killings.

Soulful Sundays Playlist: Sunday 11 June 2017

Soulful Sundays Playlist: Sunday 11 June 2017

Favourites to feed your soul on Sunday.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?