The Industrial Development Corporation (IDC) is a strategic development financier for the automotive sector in South Africa, and has played a critical role in supporting key transactions in the automotive component sector. Recently, NAACAM Commercial Director, Shivani Singh delivered a Localisation and Transformation masterclass to several representatives of the IDC.
The masterclass provided a detailed overview of the domestic localisation landscape; the status of Black supplier development; and included a deep dive into key factors preventing sub-tier localisation in the component supply base. Key learnings and ‘real life’ examples were presented to the IDC team with a view to support the development of funding solutions which will ensure achievement of the SAAM 2035 objectives.
IDC Senior Automotive and Transport Specialist Kobus Sauer said of the session, “Very insightful Masterclass provided by NAACAM on Localisation and Transformation in the Automotive Industry. Well done Shivani and Team, you are doing a sterling job to generate invaluable knowledge. The IDC Automotive Team is looking forward to working with your organisation to overcome barriers to entry and build South Africa through much needed job creation.”
NAACAM masterclasses are delivered to stakeholders and developmental institutions to improve their understanding of key issues encountered by the SA automotive sector.