Conclusion of a R1,billion term funding facility for the IDC


The IDC is one of the most crucial state-owned companies in South Africa, with a mandate to develop industrial capacity and contribute to an inclusive economy.

The IDC, through its funding of various industries and sectors, promotes regional development and integration, economic empowerment of communities and the growth of black industrialists. Additionally, it remains committed to promoting environmentally sustainable growth. 

The IDC is at the forefront of supporting the critical sectors of the economy, including mining, agriculture, manufacturing, tourism and telecommunications industries. To achieve this, the IDC raises the necessary funding from the debt capital markets, development finance institutions, and commercial banks.

Drawing on the Nedbank CIB Public Sector Team’s expertise, this deal highlights Nedbank’s continued support of the IDC’s commitment to fostering economic growth through funding that is used to create and sustain jobs while having a positive impact on the industrialisation of the South African and African markets.

The 5-year R1 billion term facility was concluded on a bilateral basis and follows a previous long-standing bilateral funding relationship between Nedbank and the IDC.