Industrial Development Corporation
latest news & developments
Rafik Mohamed to remain in custody as court postpones bail bid
Former SA Steel Mills owner Rafik Mohamed’s bail application was postponed until 4 June and the case transferred to the Specialised Commercial Crimes Court
Allowing liquidation of Tongaat Hulett will roll back the gains of the Sugar Value Chain Master Plan
Flexibility in the sugar value chain is essential to ensure its long-term sustainability
Emberton placed under scrutiny
The NPA is close to making a decision on possible charges in a probe involving SA Steel Mills and allegations of questionable cross-border transactions linked to the company
Tongaat bidder appears in court over alleged fraudulent funding letter
The case was postponed to 10 June, when Rajahussen is expected to respond to allegations that RGS fraudulently submitted a R2 billion proof-of-funding bank letter as part of its…
Inside the R1.1bn SA Steel Mills deal now under scrutiny
Previously unreported affidavits have raised serious questions about the Industrial Development Corporation’s R1.1billion funding to SA Steel Mills, including allegations of weak…
Public Protector vs IDC Human Capital
Trust deficit in HC is driving disaffected employees to the PP
IDC avoids confirming board probe into Tinley Club Med deal
The IDC has not confirmed whether a formal board inquiry was conducted into the Tinley Club Med transaction, leaving key governance questions unanswered
IDC under scrutiny as entrepreneurs detail liquidation fallout
An entrepreneur has accused the Industrial Development Corporation of rigid recovery practices that ignore the impact of Covid-19, as calls grow for an inquiry into its treatment…
Exclusive: Club Med deal exposes IDC governance failures
Allegations of governance failures have emerged over the IDC’s involvement in a R2.1bn Club Med Tinley leisure development
Hunt on for PIC’s lost billions
Despite asset growth to R3.7 trillion, questions persist over distressed loans and legacy investment scandals
The Iran War is Africa’s warning: Build sovereignty or be ruled by other people’s power
A country that exports minerals but imports industrial dependence is not sovereign in any deep sense. A country that sits on energy resources but cannot convert them into stable…
Ramaphosa raises SA investment target to R3 trillion as Sasol pledges R60bn
Ramaphosa has raised South Africa’s investment target to R3 trillion after nearly R890 billion in pledges at this year’s investment conference, with Sasol’s R60 billion…
Tau leads drive to save Tongaat Hulett
The government says the ailing company is a crucial player in South Africa’s sugar value chain and its demise would have ‘far-reaching and devastating consequences’ for the sector
Competition Commission to look into complaint over Actom’s acquisition of SSPM
Afro-Map, which failed in its own bid to buy the transformer producer, filed the complaint, saying provisions of the Competition Act were flouted in the deal
Rebooting the global financial system will pay dividends in Africa
Transforming the world’s monetary policies would benefit African cities and the continent’s public development banks have a key role to play