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Media Advisory 2017


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    Draft Bill-Competition Act Immediate release

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    Minister of Economic Development releases Draft Bill amending the Competition Act to address economic concentration, spread of ownership and institutional and procedural processes, for public comment

     Immediate release 1 December 2017
    The Minister of Economic Development, Mr Ebrahim Patel, today released a draft Bill amending the Competition Act to address the structural issues of economic concentration and the racially-skewed spread of ownership in the economy. The Bill also deals with various institutional and procedural processes aimed at enhancing the efficiency and effectiveness of the competition authorities

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    Oakbay press release

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    Oakbay and the IDC -  Statement by Minister of Economic Development

    Note to Editors:
    The Minister of Economic Development, Ebrahim Patel, today tabled a written reply in
    the National Assembly to a question on alleged share-price manipulation by persons
    linked to the Gupta family in respect of Oakbay Resources and its impact on the
    Industrial Development Corporation (IDC), that appeared on the Order Paper yesterday
    for Oral Reply, but was not considered due to the expiry of the allotted time.


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    Constitutional Court dismisses challenge to state's scrap metal export rules | 14 August 2017

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    The constitutional Court has dismissed an application by a local exporter of scrap metal for leave to appeal the judgment of the High Court of South Africa and the Supreme Court of Appeal upholding the State's scrap metal export provisions, known as the price preference system,  and ITAC's decision to refuse to issue export permits to the SA Metal Group. This brings to an end almost four years of litigation over the lawfulness of the price preference system and the refusal by ITAC to issue export permits in accordance with that system. (ITAC is the International Trade Administration Commission, a statutory body in South Africa responsible for administration of trade policy).

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    Minister welcomes re-opening of Highveld Steel Plant in Mpumalanga: 500 jobs created in steel complex | 6 June 2017

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    A steel plant employing 200 workers in direct production and a further 300 workers on site in Mpumalanga was officially reopened today. Highveld Steel, a company that closed in 2015, has restarted production of structural steel products, in a partnership between business and government.

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    Budget Vote Speech of the Economic Development Department | 25 May 2017

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    Members of the media are invited to a media briefing to be hosted by the Minister of Economic Development, Mr Ebrahim Patel, and Deputy Minister, Mr Madala Masuku, before their address to the National Assembly on the Economic Development Department’s Budget Vote.



    RSVPs should be sent to Ms Phumzile Kotane, at 071 462 8246, or email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .




    For enquiries, please contact Mr Thembinkosi Gamlashe, at 072 031 6870, or email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it


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    NEF to be incorporated into IDC to guarantee funding for black entrepreneurs | 14 Feb 2017

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    In a landmark breakthrough for South Africa’s quest for inclusive growth and radical economic transformation, the Ministers of Trade and Industry and of Economic Development announced in Cape Town today that the National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC) in order to meet the considerable demand for funding by black entrepreneurs.

    This is in line with the affirmation by President Jacob Zuma in the State of the Nation Address (SONA) last Thursday that the quest for radical economic transformation must seek “fundamental change in the structure, systems, institutions and patterns of ownership, management and control of the economy in favour of all South Africans, especially the poor, the majority of whom are African and female”.

    Both the IDC and the NEF have been identified by Government as central in implementing radical economic transformation and development policies, particularly in light of renewed efforts to develop black industrialists. The merger will promote increased broad-based black economic empowerment with a specific focus on promoting black industrialists.

    This decision is in line with government policy to consolidate South Africa’s development finance institutions to provide effective support to emerging and existing black entrepreneurs, and thereby enhancing efficient service delivery.

    the dti and EDD will appoint a technical team to drive the process expeditiously. The Minister of Trade and Industry will continue to provide legislative and policy guidance to the NEF.

    The two Ministers are confident that this historic integration of two leading DFIs will enhance the country’s developmental aspirations as outlined by President Zuma in the SONA to “open up the economy to new players, give black South Africans opportunities in the economy and indeed to help make the economy more dynamic, competitive and inclusive. This is our vision of radical economic transformation.”

    IDC and NEF impact over the years

    Over the last 75 years the IDC has been instrumental in implementing the country’s industrial policy and establishing key industries, particularly in the manufacturing sector: petro-chemicals, mineral beneficiation, fabricated metals, agro-processing and clothing and textiles. In the recent financial results announcement for period ending 31 March 2016, the corporation reported R14.5-billion in approvals including R11.4 billion in disbursements. In the same period the IDC has approved R4.9 billion for black-empowered companies, R2.9 billion of which was for black industrialists.

    The NEF was capitalised in 2005 by Government to the value of R2.4 billion, all of which had been fully disbursed by 2010. Since then, the NEF has been self-financed from loan repayments, dividends and interests from its investments and proceeds from the sale in 2007 of its stake in MTN through the NEF Asonge Share Scheme. Since operational inception in 2005 to date the NEF has approved over R8.5 billion worth of transactions to 839 black companies countrywide, which have supported in excess of 89 900 decent jobs.

    Both DFIs have developed formidable human capital and possess exceptional skills necessary for meaningful impact in driving economic growth and transformation across industries and the country as a whole.


    Sidwell Medupe
    Spokesperson – Department of Trade and Industry
    079 492 1774
    This e-mail address is being protected from spambots. You need JavaScript enabled to view it

    Thembinkosi Gamlashe – Director: Communications
    Economic Development Department
    072 031 6870
    This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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    Promoting construction-industry transformation through partnerships – press briefing on construction industry Settlement Agreement, 13 February 2017

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    On 11 October 2016, Government and seven companies in the construction industry signed an agreement to promote transformation in the sector and settle outstanding and potential civil claims between the parties relating to a number of infrastructure projects. The civil claims relate to the infrastructure projects in the period to 2010, that were settled as part of the Fast-Track Settlement process with the Competition Commission.

    The Settlement Agreement, also known as the Voluntary Rebuilding Programme (VRP), has three components:

    • Financial contributions by the companies of R1,5 billion for developmental projects (in addition to the R1,4 billion in competition penalties previously imposed by the Competition Tribunal);
    • Commitments to promote transformation and black South African ownership and participation in the sector, through either equity transactions or by partnering with and developing smaller, black-owned construction companies that will result in black-owned companies with a market value of roughly R5 billion in 2024; and
    • Integrity commitments by the company CEOs to take all steps to avoid collusion and corruption in their dealings with the state, their competitors and their customers and to partner with Government in exposing all forms of corruption and tender irregularities.

    Following the Settlement Agreement, a number of steps have been taken to give effect to the key principles and undertakings.

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    Minister Patel signs a memorandum of understanding with the government of Flanders and the International Labour Organizationon the development of a social economy policy in South Africa

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    Economic Development Minister, Ebrahim Patel, today signed a Memorandum of Understanding (MoU) with the Government of Flanders and the International Labour Organization (ILO) to help boost job creation in the social economy in South Africa.

    The Government of Flanders committed Euros 1 324 367 (around R19 million) towards the initiative which is aimed at creating and supporting decent jobs in a sustainable and inclusive social economy. EDD’s in-kind contribution is R4.8 million, bringing the total project cost to around R23.7 million. The International Labour Organization will give technical support to the Economic Development Department in the implementation of this project.

    “The social economy in many parts of the world creates and sustains millions of jobs and helps to offer economic services to marginalized communities and regions. It can bring energy and enterprise to our efforts in South Africa to tackle unemployment and inequality challenge,” Minister Patel said today at the signing ceremony.

    “We have some successful models of social enterprises locally and we are ready to scale them up. These include cooperatives, union investment vehicles, community work programmes, not-for-profit companies and stokvels. The challenge as we scale these efforts up is to do so in a sustainable manner and support efficient enterprises that generate surpluses and reinvest these in job creation and social upliftment. This partnership we entered into today will give us the resources and expertise to bring more focus to our efforts,” Minister Patel said.

    “The Government of Flanders recognises the role of the social economy in enhancing the socio-economic growth and social inclusion that South Africa needs, in order to tackle the challenges of high unemployment, poverty and inequality. We have been supporting innovative projects in social entrepreneurship and the social economy since 2010, with a multi-actor as well as a multi-level approach. These projects have contributed significantly to understanding different aspects of the social economy, while at the same time highlighting the need for a consistent and coherent national policy to further enable and support its growth and development,” said Dr. Geraldine Reymenants, General Representative – Counsellor of Government of Flanders.

    This partnership is a culmination of a long period of engagement between EDD, Government of Flanders and the ILO with the seeds of the partnership being sown at the regional academy on the social economy in 2009 under the leadership of Honourable Minister Patel. This project also builds on the pillars of the decent work agenda namely, promotion of fundamental principles and rights at work, employment promotion, social protection coverage and tripartite social dialogue,” added Mr Joni Toko Musabayana (DBL), Director at the International Labour Organisation.

    The project will be implemented over the next three financial years from 1 April 2017. The focus will be on providing support to, and developing policy for the social economy; with three key result areas:

    1 Providing strategic support for unblocking and implementing practical interventions in the social economy sector;
    2 Establishing well-defined institutional mechanisms to drive and guide work in the social economy; and
    3 Developing an enabling policy framework to guide actions, investments and job creation in the social economy sector

    Work will focus on the economic activities of enterprises and organisations that manage their operations and direct their surpluses in pursuit of social, environmental and community goals. These include cooperatives, mutual societies, voluntary and community organisations, community and union investment vehicles, as well as community trusts. For additional information contact:

    Phumzile Kotane (Economic Development Department)
    Contact Details: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 071 462 8246

    Government of Flanders - Embassy of Belgium
    Contact Details: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 012 460 0781

    Anga Jamela(ILO)
    Contact Details: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 082 671 5764

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Latest News

Economic Development Department employees have pledged their commitment to the fight against corruption. Corruption in both the private and public sector has a detrimental effect on government's effort to deliver effective services to the people.  In signing the declaration, employees declare: 'I know, I act, I stop corruption - Fighting corruption is everyone's business.'

thumbnail My Anti-Fraud Corruption Pledge




PICC seeks specialists to fulfil infrastructure development targets




Profiles of people impacted by our industrial investment and infrastructure build programme

Profiles of people impacted by our industrial investment and infrastructure build programme 2016

Scam Alert
All Service Providers and Businesses

The Economic Development Department wishes to advise members of the public, particularly those in business, to be alert to a scam utilizing the logo of the Economic Development Department. The fraudsters involved send unsuspecting business operators a Request for Quotations for the provision of Solar Panels.

As the Economic Development Department, we wish to state that we do not have such a project, and therefore beware that the Request for Quotation is not from the Economic Development Department.

Please confirm any request you receive with our Supply Chain Management division on these details 012 394 3579. Report these fraudulent activities to the SAPS or call the Anti Corruption hotline 0800 701 701 or SMS to 39772 or send an email to fraud@economic.gov.za.

Broadway Sweets Factory vist | 9 June 2016
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