Latest articles on IDC

South Africa’s economic plan for Covid-19

Relief for small businesses, tax breaks, employment incentives — Ramaphosa’s drastic measures to fight the effects of Covid-19

DTI yet to pay, despite court order

Even though the department awarded a grant to a company on its black industrialists scheme, the money has not been forthcoming

Stitched for success

The Industrial Development Corporation is working in partnership with the department of trade and industry to uplift the clothing and textile industry

Cooking up a multi-million rand recipe

It takes absolute belief in your product to get a small business going

Saldanha gas terminal in financial doldrums

The IDC and the PIC extended loans to Sunrise, and now the company is struggling to repay them

Legal wrangle over Gupta-linked Shiva Uranium loan still ongoing — Patel

Earlier this year, Shiva Uranium was one of eight Gupta-owned companies that underwent business rescue processes

New Lily Mine owners set to resume operations after three year hiatus

Siyakhula Sonke Empowerment Corporation received R190-million in funding from the IDC to finance the takeover

Lily Mine narrowly escapes liquidation

Plans to revive Lily Mine have finally been cleared

Lily Mine’s revival may be derailed if claims of negligence are proven

The situation at Lily Mine is 'out of control', Dwaine Koch said in a lawyer’s letter to Vantage Goldfields’s business rescue practitioner

IDC appoints new auditors after dumping KPMG

This follows the decision taken by its annual general meeting not to reappoint KPMG, which had previously audited the IDC

Bizarre battles in Gupta rescue

The companies and the IDC are strange partners in court cases against the business rescue team

D-Day looms for Lily and Barbrook mines

The mines face provisional liquidation and 900 jobs will be lost – unless the IDC grants a loan

IDC loan of R60m ‘gone in one year’

The development finance entity says it wasn’t aware of a beneficiary’s connection to a minister

IDC moves to transparency by publishing a list of businesses it lends to

The move towards greater transparency follows criticism of its decision to fund the Gupta family’s Oakbay Resources

Risky Oakbay finds R37.5-million just in time

By the end of last week the company had found R37.5-million to make a loan instalment payment to the state-owned Industrial Development Corporation.

vital information

The Mail & Guardian’s essential coverage of the ongoing coronavirus crisis is free to read for everyone.

If you would like to support us, please consider taking out a subscription.

Latest

Fake trafficking news targets migrants

Exaggerated reports on social media of human trafficking syndicates snatching people in broad daylight legitimate xenophobia while deflecting from the real problems in society

Female cops sent for rape counselling

Brigadier Sifiso Cele denies the rape allegations, saying that they are part of a smear campaign and that criminal charges should have been opened if the accusations were true

‘Lost’ PPE: Morar a ‘player and ref’

Roshan Morar, the auditor who supplied the KZN education department with sanitisers has also been tasked with investigating the “disappearance” of millions of rands worth of PPE

Press Releases

Corporates: A force for good for a sustainable future

In order to see people and nature thrive what is required is a strong focus on partnerships – we cannot act alone anymore

Combatting wildlife crime in Southern Africa activity annual programme statement (APS) No. 04

Concept papers are sought for implementating activities, for a multi-faceted programme that aims to reduce poaching and illegal trade in wildlife

The financial decisions made during your life journey, and their impact on your retirement outcome

The longer you save towards retirement the larger your retirement savings are expected to be due to the effect of compounding interest

In conversation with SA Reserve Bank Governer, Lesetja Kganyago

'Make interest rates zero and inflation goes up and then people save less – we need savings to fund investment in this country'

Secure your business from cyber threats

Many business-grade security systems now have built-in learning systems and AI to help businesses stay up to date with protection

Mental Health

During the pandemic there's been a dramatic increase in depression, anxiety and suicides, according to some of the surveys done

Expert financial advice still recommended – especially in uncertain times

A financial advisor is an expert who will help you to protect your wealth and make a realistic plan when unexpected events threaten your wellbeing

What is a virtual card, and how does it work?

A virtual card lets you pay online without ever having to take your card from your wallet or exposing your actual account information

The best local and international journalism

handpicked and in your inbox every weekday