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IDC approves R746m in Covid-19 relief measures

JOHANNESBURG – The Industrial Development Corporation (IDC) on Monday announced the approval of R746 million in relief measures for a number of businesses as part of the government’s Covid-19 economic interventions.

The IDC said R440.8m of the money had already been disbursed under three of its interventions: essential supplies, the distressed and the small industrial finance distressed funds.

It said the essential supplies fund had been structured to provide funding to companies that manufacture or would import essential products on an urgent basis to combat the Covid-19 pandemic.

It said the fund had already approved R536m to 15 companies producing sanitisers, disinfectants, tissue products, rapid test kits, surgical masks, and packaging for medical products among others.

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