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large job creator. The Glodina investment which was the Fourth Industrial Revolution is causing to the
required to reopen the plant saved 138 jobs and the manufacturing sector. As the economy embraces
number will increase to over 500 in the future. change there are accordingly many opportunities
which start-ups and black industrialists can tap into.
“Our mandate is job creation. When we fund a project,
our first consideration is its economic viability as it Another key sector where opportunities are being
will have to be profitable and sustainable on its own,” unlocked by the IDC is in the media and film space. The
said Moodley. “We also consider the social side of job corporation is focussing on assisting local filmmakers
creation, which is our target. By creating employment by addressing some of the key issues faced within the
and growing the economy, the general status of the film industry. The IDC has been a partner at the annual
economy is lifted.” Durban International Film Festival, the largest and
One of the IDC’s more valuable partners is in the South longest-running film festival in Africa and a flagship
African retail space. Because of this partnership, project of the Centre for Creative Arts (University of
several of IDC’s textile clients have become suppliers KwaZulu-Natal).
to a South African retail clothing giant. A further area of investment for the IDC’s KZN office
“We see a lot of ‘buy South African’ initiatives, with the is in existing tourism infrastructure development and
clothing retail sector tending to buy locally produced upgrading, as well as BEE ownership opportunities.
goods because of the exchange rate leading to high “Many of our tourist establishments are dated
import costs. Also in developing countries, like India and need to be revamped and this opens up the
and China, the costs of production are no longer opportunity to promote the transformation of this
as cheap as they initially were. The cost of imports sector,” says Moodley.
escalated over the last few years and that gives an “We will continue to identify new investment
opportunity to South African companies to fill the gap opportunities that unlock value for all stakeholders
and produce locally.”
and empower communities throughout our province,”
The IDC is also responding to the challenges that he concluded.

Full Name of Company: The Industrial Development CONTACT DETAILS
Corporation of South Africa Ltd (IDC) KwaZulu-Natal Durban Office:
Nature of Business: Development Finance Institution. Physical Address: Office 2101, 21st Floor, The Embassy
Holding Company: Self-financing corporation Building, 199 Anton Lembede Street, Durban, 4001
Date Established: 1940 Postal Address: P.O. Box 2411, Durban, 4000
Tel: +27 (0)31 337 4455
VISION Website: www.idc.co.za
To be the primary driving force of commercially
sustainable industrial development and innovation for KwaZulu-Natal Pietermaritzburg Office:
the benefit of South Africa and the rest of Africa. Physical Address: 1st Floor, ABSA House, 15 Chatterton
KEY PERSONNEL Road, Pietermaritzburg, 3200
Regional Manager KZN: Pat Moodley Tel: +27 (0)33 328 2560
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