IDC engages Limpopo entrepreneurs on opportunities

The Industrial Development Corporation (IDC) is geared to assist entrepreneurs of the province with their business ventures and the province’s past points to a prosperous future.
This was the message of Geoffrey Qhena, Chief Executive Officer of the IDC at a roadshow that was hosted at Bolivia Lodge last Thursday.
Qhena said to businesspeople that the economy needs an injection and that the IDC has the means to provide it to its business partners. “We have to work in true partnership and the IDC is committed to assist you. Please engage with us because we can only be successful if you are successful, Qhena said and added that the IDC has access to partners locally and internationally. “Together we can create employment opportunities and we can be your partner in development finance,” Qhena invited.
Qhena alluded to the fact that the IDC has spent more than R5 billion in the province over the last five years, with the bulk of the funds committed to the mining sector and said that the IDC’s funding support has contributed towards the creation of close to 15 000 job opportunities during the same period.
“We will continue to accelerate inclusive growth with emphasis on assisting black industrialists, women and youth-owned businesses. In the last financial year we have increased funding to black industrialists nationally by nearly 50% to R2,9 billion and of this amount, R923 went towards Limpopo’s local black industrialists portfolio,” Qhena said and mentioned that in going forward, the IDC will focus on improving its industrial base while at the same time leveraging its strength across entire value chains as outlined in the Limpopo development Plan for 2015 to 2019.
“Limpopo produces 75% of the country’s mangoes, 65% of papayas, 25% of citrus, bananas and litchis, 60% of avocados and 67% of tomatoes and we will focus on the strengthening of the province’s agro-processing capacity,” Qhena informed.
The IDC is currently the business partner of a number of successful business ventures that includes the Park Inn Radisson Hotel that is scheduled to be in business early in November. The hotel is situated next to the Polokwane Golf Course and will feature 160 rooms, entertainment facilities and a conference venue.

Story and photos: BARRY VILJOEN
>>barryv.observer@gmail.com

Featured photo: Geoffrey Qhena, Chief Executive Officer of the Industrial Development Corporation (IDC) addresses guests at the Limpopo roadshow that was aimed at engaging entrepreneurs.