Several of the beneficiary companies that received funds from the Industrial Development Corporation (IDC) last year involve former and present executives of a range of state-owned entities. This is an indication both of the small pool of executives in the country but also of the network that exists within the state sector. Those involved as IDC beneficiaries include former executives of the Development Bank of Southern Africa, the Land Bank, the Public Investment Corporation (PIC), the IDC itself and state-owned entities. The IDC has listed the beneficiaries of its funds from April 1 2017 to early April 2018 on its website, which also includes the names of prominent persons associated with the investments. It has loaned R8.5bn to 128 black industrialists since April 1 2017. The prominent persons listed by the IDC on its list of beneficiaries include the names of prominent politicians such as former deputy finance minister Sfiso Buthelezi who is involved with Eskom chairman Jabu Mab...

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