State-owned finance institution gives R23.4 billion to 48 people

• The IDC allocated R23.4 billion towards black industrialists in 2025. A total of 48 black industrialists benefitted from this allocation.
• The IDC is South Africa’s primary national development finance institution, which was established in 1940 to promote industrial development. It operates as a self-financing, state-owned enterprise operating under the Department of Trade, Industry, and Competition. The IDC has been central to some of South Africa’s biggest business successes, including the creation of Sasol, Foskor, and Iscor.
• Questions remain about where the majority of the IDC’s funding goes and whether it is being used to transform the economy by helping black-owned businesses access funding.