Page 151 - KZN Top Business Portfolio 2018

The IDC also supports the film industry with the goal of
unlocking opportunities for South African filmmakers
and to address some of the key issues faced by the
film industry. This includes sponsorship for the annual
Durban International Film Festival, the largest and
longest-running film festival in Africa and a flagship
project of the Centre for Creative Arts (University of
KwaZulu-Natal).
In addition, Moodley says large companies are tending
to move to locally produced goods if the quality and
price are right. The IDC promotes localisation by
supporting the establishment of business concerns
that can feed into the supply chain and that can be
import replacements. “The question that we ask is
what materials are required to build an industry and
how can we plug into that supply chain to develop a
sustainable industry?”
Further to this trend, Moodley said, “If South African
consumers were more conscious about buying local, it
would have a major impact, we would create more jobs all the stakeholders – public, private and community
sectors – and promote strong social dialogue to
and the standard of living would go up.”
capitalise on these. We also involve other financiers
As part of promoting localisation, the IDC is reaching because together we can make it work.” said Moodley.
out to the different district municipalities in KwaZulu- Much of the KwaZulu-Natal office’s success has grown
Natal to tap into the unique industrial capacity in each out of the relationships it has forged with government,
region. The provincial government’s goal is to establish
industrial economic hubs across the province that private businesses and clients since its inception. One
will contribute to the economic upliftment of areas of its more valuable partners is in the South African
outside the major urban centres. The hubs will also retail space. Because of this partnership, a number of
the IDC’s textile clients have become suppliers to a
address social and spatial imbalances, transforming
the structure of the provincial economy, so enabling South African retail clothing giant.
local development and impacting on GDP and the Moodley is particularly passionate about the clothing
province’s export earning capacity. and textile sector because they create jobs.
“We proactively go out to meet with stakeholders. We However, his biggest motivation is a passion for the
look at what the opportunities are and then try to reach Province of KwaZulu-Natal to succeed.

Full Name of Company: Industrial Development building of competitive industries and enterprises based
Corporation of South Africa Ltd (IDC) on sound business principles.
Nature of Business: Development Finance Institution. KEY PERSONNEL
Holding Company: Self-financing corporation Regional Manager KZN: Pat Moodley
Date Established: 1940 CONTACT DETAILS
KwaZulu-Natal Durban Office:
VISION
We aim to be the primary source of commercially Physical Address: Office 2101, 21st Floor, The Embassy
sustainable industrial development and innovation Building, 199 Anton Lembede Street, Durban, 4001
to benefit both South Africa and the rest of Africa. Postal Address: P.O. Box 2411, Durban, 4000
Tel: +27 (0)31 337 4455
MISSION Fax: +27 (0)31 337 4790
The IDC is a self-financing national development finance
institution whose primary objectives are to contribute KwaZulu-Natal Pietermaritzburg Office:
to the generation of balanced, sustainable economic Physical Address: 1st Floor, ABSA House, 15 Chatterton
growth in Africa and to the economic empowerment of Road, Pietermaritzburg
the South African population, thereby promoting the Tel: +27 (0)33 328 2560
economic prosperity of all citizens. The IDC achieves Fax: +27 (0)33 342 5341
this by promoting entrepreneurship through the Website: www.idc.co.za

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