Page 150 - KZN Top Business Portfolio 2018

INDUSTRIAL DEVELOPMENT CORPORATION (IDC)

Pat Moodley
www.idc.co.za

PROMOTING LOCALISATION
The KwaZulu-Natal Industrial Development Corporation
regional office is one of the most successful regional
offices in the country. The office is the second-busiest
office in terms of transactions, beaten only by the
corporation’s head office in Johannesburg.
The KwaZulu-Natal regional team constantly works to
build awareness of how local businesses can benefit
from IDC funding for local development and job creation
to be realised. Pat Moodley, regional manager, KwaZulu-
Natal says, “The IDC’s mandate is to create jobs and we
need to fund more businesses that do just that. Part of
what the IDC is passionate about is the creation of more
black industrialists and the empowerment of youth
and women. With each business or project, we aim to
benefit many people, including regional groupings and
local communities.”
The regional office also strives to find synergies and
maintain alignment between national and provincial
goals and IDC’s strategic objectives. The overall aim
is to ensure that sustainable business development
and economic growth will occur in the medium to long
term within the province.
KwaZulu-Natal is a diversified province that comes with
a range of industries, and the IDC in the region tries to
capitalise on this strength. The specific industries that
the IDC has been financing in KwaZulu-Natal include:
clothing and textiles, agro-processing, forestry and
related products, mining and beneficiation, tourism
(primarily hotel and resort development), chemicals
and electricity co-generation. In the future, the
4th industrial revolution will also have an impact
on industries and the IDC is currently striving to
accommodate these changes and build new capacity
where possible through supporting entrepreneurs and
skills transfer initiatives.
“My responsibility is to find businesses so that we can
fund them and increase the IDC’s footprint and to
stimulate the local economy,” said Moodley.
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