Page 72 - KZN Top Business Portfolio-eBook 2022
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INDUSTRIAL DEVELOPMENT
CORPORATION (IDC)
OUR VISION
Create globally competitive industries realising Africa’s
potential.
OUR VALUES
Our day-to-day activities and business conduct are guided
by our values.
Passion
Partnership
RM (KZN):
Pat Moodley Professionalism
Full Name of Company: The Industrial Development KEY PERSONNEL
Corporation of South Africa Ltd (IDC) Regional Manager KZN: Pat Moodley
Nature of Business: Development Finance Institution. CONTACT DETAILS
Holding Company: Self-financing corporation owned by KWAZULU-NATAL DURBAN OFFICE:
the South African Government
Date Established: 1940 Physical Address: Office 2101, 21st Floor, The Embassy
Building, 199 Anton Lembede Street, Durban, 4001
OUR PURPOSE Postal Address: P.O. Box 2411, Durban, 4000
Grow sustainable industries. Support entrepreneurs. Tel: +27 (0)31 337 4455
Improve lives. Website: www.idc.co.za
BUILDING BETTER BUSINESSES agro-processing, chemicals, plastics and medical
products; wood and furniture products; automotive
The Industrial Development Corporation (IDC) was and transportation; machinery and equipment;
established in 1940 to promote economic growth electronics, basic metals, tourism, infrastructure, as
and industrial development in South Africa and, by well as energy.
extension, the rest of the African continent. The KZN regional office is well networked within the
The IDC has offices in all nine provinces in order to province of KwaZulu-Natal. “We have a stakeholder
provide niche and innovative funding products that engagement plan and one of our key focus areas is
are aimed at enhancing and growing the country’s visiting the eight district municipalities every quarter,
regional economies. outside eThekwini Municipality. Our team meets with
each of the local economic development managers
Under the strong leadership of KZN Regional Manager, to build a pipeline of projects so that we can extend
Pat Moodley the KwaZulu Natal (KZN) office is flying the our reach to all corners of the province and stimulate
colours of the IDC really high. The KZN regional office investment in the region,” explains Moodley.
can always be counted amongst the top performing “With industrialisation comes development, which
offices within the IDC and once again secured its includes job creation and localisation. An additional
position as the second best performing province in the element, which we actively focus on is the growth
last financial year outside head office. and empowerment of black industrialists, youth and
The Corporation’s key sectors in the province include women owned businesses,” he added.
the textile, clothing, and footwear industries which are During the Covid-19 lockdown, the IDC went through
key drivers of the KZN economy, especially because of a realignment process to enable the Corporation to
the easy access to the Durban port for exports and better serve its clients. As a result, the Small Business
imports. Other economic sectors supported include Finance and Regions (SBF) strategic business unit,
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