The Industrial Development Corporation of South Africa Limited (IDC) was established in 1940 by an Act of Parliament (Industrial Development Corporation Act, No. 22 of 1940) and is fully owned by the South African Government. The IDC was mandated to develop domestic industrial capacity, specifically in manufactured goods, to mitigate the disruption of trade between Europe and South Africa during the Second World War. We have contributed to the implementation of South Africa's industrial policy for more than 70 years and established, among others, the petro-chemicals and minerals beneficiation industries. We have stimulated large industrial projects in these industries - acknowledged today as the cornerstones of the country's manufacturing sector - and influenced the establishment of industries in fabricated metals, agriculture and clothing and textiles. During the 1990s, our mandate was expanded to include investment in the rest of Africa. The Mozal aluminium smelter in Mozambique was the first such venture. We secured investors from around the globe to establish a major industrial enterprise in a country plagued by decades of civil war. The smelter illustrated the viability of large projects on a continent often shunned by investors. Currently, our investments in Africa include mining, agriculture, manufacturing, tourism and telecommunications. The IDC's funding is generated through income from loan and equity investments and exits from mature investments, as well as borrowings from commercial banks, development finance institutions (DFIs) and other lenders. We align our priorities with government's policy direction and remain committed to developing the country's industrial capacity, as well as playing a major role in facilitating job creation through industrialisation.