‘IDC’s investments in Africa must benefit SA’

Funding projects in Africa
continues to pose a major
benefit to South Africa as it
creates a market for South
African goods and related
services, according to
Thokoane Tsolo, who heads
up the Africa division of
the Industrial Development
Corporation (IDC).
“We often get asked
why are we funding an
airport in Senegal or the
development of a business
plant in Nigeria,” he said
at an Africa Exchange
conference in Johannesburg
recently. “Despite persistent
afrophobia and general
perceptions of gloom and
doom, Africa is open for
business. As a project
financier it is important for
us to be involved across the
continent.”
He said with the largest
and most sophisticated
economy on the continent,
it was important for South
Africa to start taking
advantage of the growth
opportunities being
presented on its doorstep.
According to Tsolo, the
IDC only invests in projects
that have some beneficiation
for South Africa or the
region.