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(From Financial Mail)
SA's development finance companies IDC CEO Geoff Qhena The IDC, established in 1940, has added BEE to its agenda only in the past five years. Its main focus is funding industrial projects. With R39bn in shareholder funds and loan approvals of R4,2bn, the IDC is making inroads into SMEs, which now account for 69% of total funding by numbers last year, though only 40% of the value of disbursements. Loans have to be higher than R1m, but rates are mostly below prime rate.
NEF CEO Philisiwe Buthelezi Established in 1998, the NEF was plagued for years by underperformance and alleged corruption. The DTI cleanout led to the appointment of …