Industrial Development Corporation – (IDC)
The Industrial Development Corporation of South Africa Ltd (IDC) is a self-financing, national Development Finance Institution that promotes economic growth and industrial development in South Africa.
5.1 IDC Gro-E Scheme:
The IDC is investing R10-billion over the next five years through its Gro-E Scheme. It offers financial support to start-up businesses, including funding for buildings, equipment and working capital. It also funds companies wanting to expand provided that they show an ability to create jobs and operate in sectors supported by the IDC which include:
• Green industries, which include renewable energy, energy efficiency, pollution mitigation, waste management and recycling, and biofuels
• Agricultural value chain, including agro-processing
• Manufacturing, focusing on advanced manufacturing; automotive, components, medium and heavy commercial vehicles manufacturing; clothing textiles, footwear and leather, forestry, paper and pulp, and furniture; metals fabrication, capital and transport equipment; pharmaceuticals; plastics and chemicals
• Mining value chain, including downstream mineral beneficiation, mining and mining technologies
• Tourism and high-level services, which includes business process services and tourism
• Media and motion pictures, which has to do with media pictures production, the media value chain of broadcasting (radio and television), media expansion including new media, music value chain, and film production and animation and
• The knowledge economy, to do with health care, information and communications technology and biotechnology.
• Start-up businesses, including funding for buildings, machinery and working capital;
• Existing businesses for expansionary purposes;
• Businesses that demonstrate economic merit and have prospects of acceptable profitability to be able to service their obligation;
• For the duration of the funding period, businesses whose maximum cost per job does not exceed R500 000 relative to the total funding required;
• Broad-based Black Economic Empowerment certification from an accredited verification agency, where applicable; and
• Businesses operating or expanding in South Africa.
Loans are given at prime less 3% with a minimum of R1-million and a maximum of R1-billion per project.
Call Centre: 0860 693 888