INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - IDC-Resignation of CFO: MS Nonkululeko Dlamini

IDC-Resignation of CFO:  MS Nonkululeko Dlamini

INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA (“IDC”)

REGISTRATION NUMBER: 1940/014201/06

Issuer Code: IN02


RESIGNATION OF THE CHIEF FINANCIAL OFFICER (CFO): MS. NONKULULEKO
DLAMINI


IDC would like to notify its stakeholders that Ms. Nonkululeko Dlamini
has resigned as the Chief Financial Officer of the IDC.    Nonkululeko
will serve her notice up to July 2020.

Nonkululeko joined the IDC in September 2015 and has had a successful
career at the IDC.    She successfully led several fund-raising drives
and assisted the IDC to navigate some tough financial and economic
challenges. Nonkululeko is highly regarded by her peers and the Board.
Under her leadership, the IDC successfully migrated from IAS to the
IFRS9 reporting standard.

The Corporation thanks Nonkululeko for her exceptional service and wish
her well in her future endeavours.

The process of appointing a new CFO is at an advanced stage and a
further announcement will be made as soon as the process is concluded.
In the interim, IDC has a strong finance team and does not foresee any
interruptions in its activities.

Sandton


Debt Sponsor: The Standard Bank of South Africa Limited


18 May 2020

Date: 18-05-2020 10:10:00
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