The question has been put to the CEO of the IDC who has responded as follows:
“The IDC’s total investment in On Digital Media (ODM) was R882 401 000.
On the 26th of October 2012, ODM was placed into business rescue and the undrawn portion of the equity funding into ODM was cancelled.
The business rescue of the company was terminated with effect from ...
The IDC has a confidentiality policy that applies to companies that it transacts with. The CEO of the IDC advised me that the requested information would be in breach of the current policy. The IDC has taken a decision to provide macro-data on the number of transactions involving politically exposed persons in future annual reports.
I have taken note of the IDC’s advice and ...
As stated on 8 November 2016 in response to question 2291, all of the investigations were conducted by the in-house forensic audit team who report to the Head of Internal Audit at the IDC. Consequently, no additional financial cost was incurred by the Industrial Development Corporation for conducting the 126 investigations except for the normal remuneration the investigators receive as employees of the Industrial ...