Entrepreneurs benefit from IDC’s help
Among others, the corporation provides funding to start up businesses in the province to ensure job creation.
WHITE RIVER – Both established and aspiring entrepreneurs converged during the Industrial Development Corporation’s (IDC) roadshow at the Ingwenyama Conference and Sports Resort recently.
Among others, the corporation provides funding to start up businesses in the province to ensure job creation. Based on the testimony by most of the guests, IDC has so far played a meaningful role to make entrepreneurs realise their dreams in the province.
One of the entrepreneurs who benefit from the corporation’s assistance, is Mr Lebo Malope. He and two friends own Bhangula Recycling and Waste Management.
“After approaching IDC for funding, it assisted us with a start-up capital. Today we employ 18 locals in our plant and we are growing to give jobs to even more people,” he said.
The company also has a working partnership with more than 200 vendors who provide it with waste material which it supplies to recycling companies across the country.
Malope said it was good that financial institutions were investing in the local economy. “It’s quite difficult to look for funding with no form of security and I’m grateful that the IDC believed in us when all we had was a viable idea. The assistance has benefited many.”
The corporation’s CEO, Mr Mvuleni Qhena, said the roadshow enabled them to engage with local entrepreneurs in order to discuss, among other issues, access to finance and how the IDC, in conjunction with local business and government, could facilitate job creation. This will in turn contribute to the growth of the local economy.
“Through our partnership with entrepreneurs we have seen great growth in local corporations and we are glad for that,”
he said.
The regional manager, Mr Mashweu Matsiela, admitted that the IDC was still lagging behind in terms of investing in agriculture and agro-processing enterprises which could create jobs at a much larger scale than tourism and manufacturing.
“Our eyes are on developing agro-processing enterprises but land is a troublesome sector as there are a lot of claims taking place,” Matsiela said.
During the question-and-answer session, a number of concerns were also brought to IDC’s attention.
