INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - NEF to be incorporated into IDC to guarantee funding for Black Entrepreneurs

NEF to be incorporated into IDC to guarantee funding for Black Entrepreneurs

INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA
(“IDC”)


REGISTRATION NUMBER: 1940/014201/06


JSE Code:        ISIN:
IDCG02           ZAG000110164
IDCG03           ZAG000110149
IDCG04           ZAG000121682
IDCG05           ZAG000121716
IDCG06           ZAG000121732
IDCG07           ZAG000131350
IDCG08           ZAG000131368
IDCG09           ZAG000141011
IDCG10           ZAG000141029
IDCG11           ZAG000141037
IDCP04           ZAG000100629
IDCP05           ZAG000103896
IDCP06           ZAG000120395



NEF TO BE INCORPORATED INTO IDC TO GUARANTEE FUNDING FOR BLACK ENTREPRENEURS


On Tuesday, 14 February 2017, the Ministers of Trade and Industry and
Economic Development approved that the National Empowerment Fund (NEF) will
become a wholly owned subsidiary of the IDC. The IDC and NEF have been part
of a working team together with the respective Ministries in finalizing the
process to merge the NEF into the IDC.


The merger will not have an immediate impact on IDC and NEF’s operations
and   employees. It will promote increased economic empowerment,with
specific focus on promoting Black Industrialists.


The working team will continue to drive the integration process. Once the
process has been finalized, further announcements will be shared.




Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank
Limited

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