05 June 2021 – The Industrial Development Cooperation of South Africa (IDC), a state-owned development finance institution (IDC) has joined the Impact Catalyst, an initiative founded by Anglo American, the Council for Scientific and Industrial Research (CSIR), Exxaro, World Vision South Africa and Zutari to create mechanisms that drive regional socio-economic development initiatives through public-private partnerships at scale.
These members have committed to facilitate collaborative action through the implementation of various social economic initiatives.
Explaining the decision to join the Impact Catalyst, IDC Chief Operating Officer (COO) Joanne Bate said the IDC’s objectives, among others, were focused on the economic empowerment of the broader South African population, as well as contributing to the generation of balanced, sustainable, economic growth in the African continent.
“These economic initiatives are designed to leverage collaboration across sector players and selected for impact beyond the scale of individual participants. There are many synergies between what IDC does and what Impact Catalyst seeks to achieve. The IDC achieves this by promoting entrepreneurship through the building of competitive industries and enterprises based on sound business principles. You can see that there is a direct correlation between the objectives of the IDC and that of the Impact Catalyst” says Bate.
Most importantly, the two entities have committed to facilitate the creation of sustainable jobs in the process by contributing to promoting entrepreneurial development and growing the Small and Medium Enterprises sector (SMEs) as well as increasing the number of black industrialists.
“Our focus at Impact Catalyst is to be able to facilitate an open platform which our members can use for purposes of constructive participation and in the process we build and implement socio-economic programmes that seek to address some of the key sustainable development challenges facing South Africa as well as the continent. The IDC is a natural but also a critical partnership to achieve the economic impact the Impact Catalyst aims to achieve,” says Charl Harding, the Impact Catalyst CEO.
The Impact Catalyst’s programmes have gained prominence as a result of increased partnerships with key stakeholders and their ability to respond to local sustainable development challenges. To achieve the scale, speed, and impact necessary, an integrated approach that leverages key role players is critical to drive meaningful change and measurable socio-economic impact.
The Impact Catalyst is designed to be the catalyst for change towards this new approach to socio economic development.
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