THE IDC AND JOB CRE­ATION

Finweek English Edition - - FEEDBACK -

I have just read your ar­ti­cle in the 19 Septem­ber 2013 ( IDC key to job cre­ation). I would like to just make a comment that the R842 000 per job is not a cost per se, the money is a loan which IDC [In­dus­trial De­vel­op­ment Cor­po­ra­tion] earns in­ter­est on. It will only re­ally be cost if the IDC is reck­less and they need to write off most of the money. This is un­like the DBSA-ad­min­is­tered Jobs Fund, which is a grant.

In­ci­den­tally, we are an SMME fi­nance busi­ness to which the IDC lent R29m and we have cre­ated about 1 000 jobs through on-lend­ing in the past three years and we re­port th­ese fig­ures to the IDC quar­terly.

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