While disbursements of IDC funds to applicants increased by 14% last year to R7.2 billion, trade, industry and competition minister Ebrahim Patel criticised theHe pointed to the fact that loan approvals reached R16 billion, and said that IDC must ensure that this translates into higher levels of loans"to make a meaningful impact on the economy".
" will also need to enhance its response to the recovery of the South African economy by steering long-term industrialisation, driving inclusive growth and continuing its countercyclical role," Patel added.Patel also said the IDC must build"a more effective internal capacity" and take a closer look at its operating costs.We live in a world where facts and fiction get blurred
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