About

Founded in 1940 and owned by the South African government, IDC is a national development finance institution set up to promote economic growth and industrial development under the supervision of the Economic Development Department. The legal department is led by Bassy Makwane, who is part of the executive team and moulds the strategic decision-making agenda. The legal team forms a central part of the company’s core values of directing every operation with passion, partnership and professionalism. As a company that takes pride in its 70-year establishment in the petro-chemicals and minerals industries, it is the legal team’s task to expand the investment in the rest of Africa, through the viability of large projects in the continent, introducing favourable legal conditions to investors and consequently allowing the company to grow. Investments by IDC in Africa include mining, agriculture, manufacturing, tourism and telecommunications. The legal team also needs to remain well aligned with emerging government policy direction, in order to support the company in playing a major role in facilitating a competitive industrial base. In October 2018, the legal department helped the company invest R100m in Lucapa’s Lesotho mine for its Mothae Kimberlite diamond mine. The facility will span a four year period, and is predicted to considerably strengthen Mothae’s financial position.