The IDC allocated R23.4 billion to 48 black industrialists in one year
Minister of Trade, Industry and Competition, Parks Tau, revealed that the Industrial Development Corporation (IDC) allocated R23.4 billion to 48 black industrialists.
He shared this information in response to a Parliamentary question from National Assembly member Thokozani Langa.
Langa asked Minister Tau how many black-owned businesses benefited from the R23.4 billion the IDC allocated to black industrialists in 2025.
He also asked about the measures to ensure that black-owned businesses gain access to capital-intensive, export-oriented and advanced manufacturing sectors.
Tau responded, saying that 48 black industrialists benefited from the R23.4 billion allocation from the Industrial Development Corporation.
This means that each of these black industrialists received an average of R488 million from the IDC last year.
He added that the IDC has implemented interventions to improve access for black-owned businesses to advanced manufacturing sectors.
It includes the Black Industrialists Programme, implemented in partnership with the Department of Trade, Industry and Competition (DTIC).
This programme provides funding to black entrepreneurs who own and lead industrial businesses in strategic manufacturing and value-adding sectors.
“The DTIC ensures that black-owned businesses gain access through its Black Industrialist Scheme,” he said.
“This incentive supports the participation of black industrialists in the manufacturing sector and relevant value chains, targeting the local and export markets.”
The IDC’s Transformation Funding initiatives also help black businesses to enter the manufacturing sector.
It prioritises black-owned enterprises, black Industrialists, women entrepreneurs, youth entrepreneurs, and broad-based ownership structures.
There are also blended finance and concessionary funding structures administered through IDC-managed funds and partnership programmes.
“These funding structures improve access to finance for priority groups and reduce barriers to entry in industrial sectors,” Tau said.
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Can Parks Tau please also explain why so much money, priorities, and preferential que-jumping go specifically and intentionally only to blacks, and yet the country is still de-industrialising? Not a lot to show for R23.4 billion, innit?