Industrial Development Corporation
Dineo Skwambane is a seasoned professional with extensive experience in finance and strategic management. Currently serving as a Senior Advisor in the COO's Office at the Industrial Development Corporation since December 2022, Dineo previously held the position of Managing Director at IDF CAPITAL from July 2020 to December 2021. From April 2010 to July 2020, Dineo led the Textiles Strategic Business Unit at the Industrial Development Corporation and was a Unit Manager in Project Finance at the Development Bank of Southern Africa from 2009 to 2010. Dineo's career also includes serving as Director of Enterprise Finance at Umsobomvu Youth Fund from 2003 to 2009. Educationally, Dineo holds multiple degrees, including a Bachelor of Arts in Economics and various commerce degrees from reputable institutions such as The University of the South, the University of Cape Town, and the University of South Africa.
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Industrial Development Corporation
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The Industrial Development Corporation of South Africa Limited (IDC) was established in 1940 by an Act of Parliament (Industrial Development Corporation Act, No. 22 of 1940). The IDC was mandated to develop domestic industrial capacity, specifically in manufactured goods, to mitigate the disruption of trade between Europe and South Africa during the Second World War. For more than 70 years the IDC has contributed to the implementation of South Africa's industrial policy and has established, among others, the petro-chemicals and minerals beneficiation industries. We have stimulated large industrial projects in these industries - acknowledged today as the cornerstones of the country's manufacturing sector - and influenced the establishment of industries in fabricated metals, agriculture and clothing and textiles. The IDC's funding is generated through income from loan and equity investments and exits from mature investments, as well as borrowings from commercial banks, development finance institutions (DFIs) and other lenders. We align our priorities with government's policy direction and remain committed to developing the country's industrial capacity, as well as playing a major role in facilitating job creation through industrialisation.