Tough economy dries up Industrial Development Corporation funding

2019-08-13 21:03

Though the IDC - a national development finance institution - expects to "create and save" over 19 000 jobs, this is some 10 000 fewer than projected in 2018.

Patel: I declined several invites from the Guptas

2018-11-19 15:11

Economic Development Minister Ebrahim Patel says he declined several invitations from the Guptas, including one to attend the now-infamous wedding at Sun City in 2013.

IDC forks out R17bn to boost, build and save businesses

2018-08-05 10:57

Almost 14% of the financing made available by the state-controlled Industrial Development Corporation (IDC) in the past financial year was granted to businesses in distress.

SA smartphones hammered as sales suffer Christmas hangover

2018-06-11 13:43

South Africa's mobile market has taken a hit as smartphone sales decline after the festive shopping season, says an industry tracker.

Nokia on the comeback trail as it launches mid-price high spec 7 Plus in SA

2018-06-06 12:41

The brand, which once dominated the cellphone market, announced a comeback with a brand new high spec, mid-priced Android-powered smartphone in SA.

IDC to fight Gupta rescuers

2018-04-08 06:00

Practitioners have failed to take over the mine so that it can have a fair chance at being rescued.

Guptas challenge IDC’s lawyers in R287.5m case

2018-01-21 05:52

The Gupta family’s Oakbay group of companies has disputed that the IDC lawyers have the authority to represent the financier in its R287.5m case against the group.

Mpumalanga communities get 16.1% stake in Nkomati coal mine

2018-01-07 06:05

Rural communities in Mpumalanga have been granted a 16.1% stake in a coal mine following a ground-breaking agreement.

Top reads on Fin24: Diamonds and dominance in the Richtersveld, and the IDC sues Gupta-linked firms

2017-12-13 18:48

ICYMI: A roundup of Wednesday's must-read financial and economic news.

Oakbay cries foul on IDC's legal action

2017-11-24 19:34

Oakbay, which faces legal action from the IDC over its failure to pay back R293m owed to the state-owned entity, has called the IDC's actions “spurious and malicious”.


Solidarity asks Minister Patel to intervene in ArcelorMittal retrenchments

2019-08-07 21:54

Union Solidarity has asked Minister of Trade, Industry and Competition Ebrahim Patel to sit in on an ArcelorMittal meeting aimed at discussing the company's restructuring plans, which could see as many as 2 000 employees retrenched.

Davies: I met with the Guptas, but so did Helen Zille

2018-10-29 15:56

Trade and Industry Minister Rob Davies said he met with members of the Gupta family on several occasions between 2009 and 2013.

Lily, Barbrook mines hit by infighting

2018-07-01 06:01

The creditors’ committee doubts the new owners have the money to do the job, and wants proof.

SA is ready for new Nokia, insists brand licence holder

2018-06-09 07:15

South African consumers are ready for a resurgent Nokia brand, the official licence holder believes.

Smartphones take a hammering, feature phones make a comeback

2018-04-20 08:05

Smartphones in the Europe, Middle East and Africa are coming under pressure as sales slip for a second year.

IDC loans R190m to firm to buy stake in Vantage Goldfields

2018-04-01 08:35

A local minerals and investments company has signed a R190m loan with the Industrial Development Corporation to acquire a 74% stake in the cash-strapped Vantage Goldfields SA to reopen two Mpumalanga mines.

Port St Johns gets R100m boost

2018-01-14 06:00

The small town of Port St Johns on the Wild Coast in the Eastern Cape is set for a facelift with plans for a state-of-the-art R100m holiday resort.

#GuptaLeaks: Confidence game – or how professionals missed massive fraud at Oakbay listing

2017-12-15 17:55

The #GuptaLeaks prove what many have long suspected: the November 2014 JSE listing of the Guptas’ Oakbay Resources & Energy – sponsored by Sasfin Capital, audited by KPMG and banked by Absa – was rooted in fraud.

Entrepreneurs can sew success in clothing sector

2017-12-02 17:14

Female entrepreneurs need to start thinking beyond fashion design if they want to tap into the clothing and textile industry, says an Industrial Development Corporation dealmaker.

IDC legal action against Oakbay 'too little, too late' - banker

2017-11-24 18:26

The Industrial Development Corporation should have foreseen that it was risky to convert a loan to Oakbay Resources into shares, says a corporate banking principal.

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