South Africa: Industrial Development Corporation Approves R8.4 Billion Funding

Pretoria — The Industrial Developmental Corporation (IDC) has approved funding of R8.4 billion in the financial year ending March 2011, which will go a long way towards job creation.

"This is the highest level ever for South African-based investments. Funding approvals during the year under review are expected to create 19 650 full time jobs and save an additional 11 650, with a combined impact on employment of 31 300, up from 25 000 in 2010.

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