IDC launches regional offices in Limpopo to create jobs and support entrepreneurs

The Industrial Development Corporation (IDC) recently launched regional offices in Limpopo as it strengthens its presence across the country to unlock entrepreneurial opportunities and create sustainable employment in the aftermath of the Covid pandemic.

The acting head of small business finance, Naomi Mtshali said the IDC plans to work with small business owners and the Limpopo provincial government to create jobs. According to the SA Quarterly Labour Force Survey, Limpopo lost over 400 000 jobs in the last quarter of the 2023- 24 financial year.

Limpopo has fertile soil for agriculture and also vast opportunities in the agro-processing space, but with identified gaps mainly in the packaging and storage areas.

Mtshali said the organisation had enhanced its offering at the regional level. “This change has turned our regional offices into turnkey operations which cover transactions up to R20 million, ensuring faster turnaround of deals. “As a result, last year alone, IDC approved R510 million and disbursed R305 million to support entrepreneurs and sustain job creation,” she said.

Mashweu Matsiela, IDC regional manager in Limpopo, said the province contributed R4.4 billion to the IDC’s total approvals of just over R20 billion. According to Matsiela on the mining front, Limpopo had several opportunities within the platinum group metals and coal industries. Junior miners and suppliers to mines have opportunities which can be supported through the myriad of funding solutions, including SME-Connect initiative.

“Through this initiative we can partner with big mining houses and tap into their enterprise supplier development programmes thereby creating valuable linkages for SME support.”