UNIDO ITPO Tokyo supported the online seminar “Partnering with DFIs for Africa’s Development – Session 2: Industrial Development Corporation of South Africa (IDC)” organized by the Association of African Economy and Development Japan (AFRECO) on 29 October 2020.
The seminar welcomed high-level speakers from the Industrial Development Corporation of South Africa (IDC) and showcased a critical role of IDC in industrial capacity building, projects which IDC funded, support under COVID-19, and a way forward.
Mr. David Jarvis, Executive, Strategy and Corporate Affairs explained that a core objective of IDC since its establishment in 1940 is industrial capacity building through sustainable investments. One of the focus is manufacturing sector development which leads to increase of local production in the country, and their recent statistics showed nearly 75% of their funding consistently goes to capacity expansion and start-ups. In the second presentation, Ms. Nontokozo Hadebe, Head, Corporate Strategy and Innovation mentioned several projects which IDC funded, such as a joint venture with a Chinese car manufacturer, and wind and solar energy generation in South Africa. She underlined impact of those projects, for example, one in the Northern Cape will be capable of meeting the electricity needs of more than 95,000 households and prevent 348,000t of carbon emissions a year when the solar plant goes into full-scale operation. Another renewable energy project in Mozambique showed that IDC’s activities are not limited to South Africa.
Mr. Hilton Lazarus, Head, Chemicals, Medical and Industrial Mineral Products said IDC considered a “business unusual” under the current pandemic, and explained about new financial packages which enable short-term funding to finance working capital requirements. He added that IDC also contributes to Social Relief Funding which supported more than 5,000 families with food parcels across the country. Ms. Joanne Bate, Chief Operating Officer reiterated importance of job creation and industrial capacity building, and also raised a regional perspective with industrial parks and Special Economic Zones to attract foreign capitals to assist capacity and a value chain development. Although there is a high level of uncertainty globally, she expressed opportunities in infrastructure of energy, especially green energy, mining value chain, automotive and agriculture.
The event was concluded by encouraging further communication with IDC as well as SADC-DFRC for specific inquiries.
*Presentation materials are available on AFRECO’s website.
|Date/Time:||29 October 2020 at 15:00 – 16:30 *On a live stream|
|Organizer:||The Association of African Economy and Development Japan (AFRECO)|
|Co-organizer:||Southern African Development Community – Development Finance Resources Center (SADC-DFRC)|
|Supporters:||UNIDO ITPO Tokyo, JETRO, and JICA|
|Fee:||Free of charge|
|15:00||Opening remarks and general brief explanation about IDC|
|Mr. David Jarvis, Executive, Strategy and Corporate Affairs, IDC|
|15:10||Previous projects/programmes that the IDC financed|
|Ms. Nontokozo Hadebe, Head, Corporate Strategy and Innovation, IDC|
|15:20||Policies and institutions for COVID-19 of the RSA|
|Mr. Hilton Lazarus, Head, Chemicals, Medical and Industrial Mineral Products, IDC|
|15:30||Projects/programme that the IDC is planning to implement after the COVID-19 crisis and what partnerships should be promoted together with Japan|
|Ms. Joanne Bate, Chief Operating Officer, IDC|
Mr. Tetsuya Fukunaga, Director, AFRECO
Dr. Tapiwa Dube, Business Development Manager, Continental Coverage, IDC
Mr. Kogan Pillay, Head, PPP Unit, SADC-DFRC
The session 3 will feature Development Bank of Namibia (DBN) on 26 November 2020.
Details will be announced soon.
Contact for inquiries
The Association of African Economy and Development Japan (AFRECO)