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

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This article first appeared on 702 : IDC results show it provided R11.5 billion in funding to businesses in a year


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