STAFF WRITER
The Industrial Development Corporation of South Africa (IDC) has taken another step in its drive to finance industrial growth after receiving approval from the Johannesburg Stock Exchange (JSE) Limited to list a new financial instrument under its Domestic Medium Term Note Programme. The listing signals investor confidence in IDC and supports the organisation’s continued focus on development funding.
The programme has an authorised size of N$50 billion, with more than N$36 billion already issued. The IDC’s latest note, designated IDC01, carries a nominal value of N$500 million. It was issued at par and structured as a floating-rate note. Investors will earn interest at 3-month JIBAR plus 45 basis points, resetting from the interest determination date of 9 December 2025.
The note was scheduled for issue on 12 December 2025, with interest accruing immediately. The first interest payment is set for 12 March 2026, which is also the final redemption date. As a senior, unsecured instrument, IDC01 offers investors the stability of the IDC’s creditworthiness while providing the flexibility of a floating-rate structure.
Standard Bank of South Africa Limited acted as the debt sponsor, ensuring the listing met all JSE requirements.
For the IDC, the listing forms part of its broader strategy to secure capital for South Africa’s industrial development. The organisation has played a central role in economic funding since its establishment in 1940, through an Act of Parliament. It is fully owned by the South African government.
The IDC aligns its priorities with national policy frameworks, including the National Development Plan, the Industrial Policy Action Plan and industry master plans. Its mandate focuses on job-rich industrialisation, supporting black-owned companies, black industrialists, and women- and youth-owned enterprises. The IDC also aims to ensure long-term sustainability, safeguard the natural environment, and reinforce its role as a centre of excellence in development finance.
