TSHOKOLO ‘TP’ NCHOCHO’S, IDC CEO
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National enterprise developer the Industrial Development Corporation (IDC) yesterday joined the growing list of struggling state-owned entities that are nearly broke, flagging that its net income fell 78 percent to R720 million during the year to the end of March from R3.2 billion a year earlier. The IDC said while its profits increased from R2.2bn to R3.2bn during the period, it missed its own crucial targets that include job creation.