Page 103 - KZN Top Business Portfolio 2025 V1-EBOOK

Supporting Black Industrialists and Inclusive construction and 2,100 direct and indirect roles
Development once operational.
Driving inclusive growth remains central to the IDC’s “With KZN’s unemployment rate at 31.2%, projects like
strategy. It actively supports black entrepreneurs as these accelerate rural development, create skills transfer
industrialists and manufacturers, often co-investing in opportunities, and boost the province’s socio-economic
projects alongside the Department of Trade, Industry prospects,” says Moodley.
and Competition’s black industrialist programme.
The IDC has also introduced a top-up equity facility Other notable investments in the province include the
to help entrepreneurs with limited capital participate Radisson Blu uMhlanga Hotel, further enhancing KZN’s
meaningfully in large-scale projects. appeal as a business and leisure destination.
“With industrialisation comes development, which Client-Centric Approach
includes job creation and localisation. We are actively The IDC’s KZN office prides itself on being approachable
focusing on the growth and empowerment of black and client-focused. If a project does not meet IDC’s
industrialists, as well as youth- and women-owned mandate, the team refers applicants to alternative
businesses,” Moodley explains. funders and assists them in securing the right support.
Their network across the province ensures that bankable
One notable success is Argento Trading, a 100% projects rarely fall through the cracks.
black-owned, women-led Cut-Make-Trim (CMT)
production facility in Isithebe. Co-founders Joudalle and Commitment to Communities
TK Govender secured R5 million in IDC funding to grow Beyond financing industry, the IDC is deeply invested
their clothing and textile operations, positioning the in community upliftment, particularly in rural and
company as a key contributor to local manufacturing. marginalised areas. Its corporate social investment
(CSI) programmes include grant funding, in-kind
Strategic Partnerships and Enterprise Development donations, employee volunteering, and support for
The IDC leverages strong partnerships with public and social causes. In 2024, 75% of CSI spend went to rural
private stakeholders to drive SME growth, including beneficiaries, primarily women and youth, with KZN
initiatives like the SME-CONNECT programme, which receiving the largest share due to humanitarian aid for
supports enterprise and supplier development. flood victims.
Looking ahead, the corporation plans to expand its
focus on special economic zones and industrial hubs to Over the last two years, IDC has partnered with
further stimulate provincial economic growth. community-based organisations to assist communities
affected by the 2022 KZN floods, demonstrating its
The IDC also invests in diverse sectors, including commitment to supporting communities alongside
media, where funding supports local filmmakers fostering economic growth.
and producers in creating content for domestic and
international markets. Driving KZN’s Economic Future
Through its funding, partnerships, and community
Transformative Tourism Investments initiatives, the IDC’s KZN team plays a pivotal role in
Tourism remains a significant driver of KZN’s stimulating provincial development. By empowering
economy. The IDC is a funding partner in Club SMEs, supporting black industrialists, and investing
Med South Africa, a luxury beach resort on the in high-impact sectors, the IDC is helping to build a
province’s north coast, scheduled to open in July more inclusive and resilient economy - one project, one
2026. The project is set to create 1,400 jobs during business, and one community at a time.

The IDC is a funding partner in Club Med South Africa, which is set to open in July 2026

www.idc.co.za 101