INTERVIEW
agriculture, manufacturing and healthcare. Youthowned businesses in the province have recently received IDC funding of R124-million, which created 109 direct jobs. We also funded a sub-acute hospital, Care Cure Thaneze in Mahikeng, which is majority owned by black women, and it is doing extremely well. IDC also funded Momentous Energy, a solar farm outside of Rustenburg, 17% of which is owned by the community around Marikana. Are there opportunities for entrepreneurs to get involved in the beneficiation of mining products?
The Platinum Valley Special Economic Zone (SEZ) will certainly boost beneficiation initiatives in the province. Hydrogen South Africa (HySA), based at the North West University’s Potchefstroom Campus, is working on exciting game-changing initiatives that will further boost beneficiation. The province is also host to the country’s only platinum incubator, the Seda Platinum Incubator (SPI) which has produced many entrepreneurs in jewellery manufacturing. The IDC is involved in all of these important initiatives, the SEZ, HySA and SPI. What is the North West branch doing to empower youth, women and blackowned businesses in the province?
finance youth-owned enterprises in South Africa, with R1-billion of that being offered at the very attractive lending rate of prime less 3%. In the last two years we have approved R124million to youth-owned entities. We have an intentional and focussed strategy to fund many more youth-owned entities in the North West. The IDC also funded 13 projects in the province where women have a significant stake and we intend to disburse R23billion to black industrialists over the next five years. Black empowered companies in the North West Province currently receive R5.6-billion (90%) of IDC funding.
“THE IDC INTENDS TO DISBURSE R23-BILLION TO BLACK INDUSTRIALISTS OVER THE NEXT FIVE YEARS.” What levels of funding will flow from the IDC in the near future?
The IDC plans to disburse R100-billion over the next five years into the South African economy. There is no set amount allocated per province, it is the responsibility of each provincial office to ensure that their province gets its equitable stake. The North West currently contributes 6% to the SA GDP and I am confident that we can disburse a significant amount of funding into the North West economy over the next five years.
The IDC recently set aside R4.5-billion to
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NORTH WEST BUSINESS 2017