The Industrial Development Corporation (IDC) notes recent public discourse, scrutiny and stakeholder commentary regarding its funding decisions, due diligence and evaluation processes, internal systems and its role in advancing transformation and inclusive economic participation.

As South Africa's leading state-owned development finance institution, the IDC recognises the importance of these conversations. We acknowledge the concerns raised and reaffirm our commitment to listening, engaging constructively, and continuously strengthening how we deliver on our mandate.

Committed to our developmental mandate

Established through an Act of Parliament in 1940, the IDC's mandate is clear and enduring: to drive sustainable industrialisation that supports jobs and advance inclusive economic growth. Since the advent of democracy in 1994, transformation has been a central pillar of this mandate.

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This commitment is reaffirmed in the IDC's Corporate Plan 2025/26-2027/28, which places inclusive growth, transformation, and support for underserved entrepreneurs at the centre of the Corporation's strategic focus.

Transformation through our funding outcomes

The IDC prioritises support for Black Industrialists and black-owned businesses; empowers women and youth; advances broad-based ownership models (including worker and community ownership); and promotes industrialisation through localisation, beneficiation, and job creation.

Over the past two financial years, the IDC has prioritised transformation-focused funding. In this period, black-owned businesses and Black Industrialists were the principal recipients of IDC funding (by volume and value), accounting for roughly 88% of total funding allocations across both years.

In 2024/25, total transformation funding approvals...