DashboardOverview
FY2025 — Annual Position
Strategic intelligence,
grounded in evidence.
A composite view of the Industrial Development Corporation as it stands today — assets, profitability, the listed equity book, debt position, and the macro forces that shape the year ahead.
FY2025 Audited20Y History3 Active Alerts
Group profit collapsed 95% to R329m in FY2025
Driven by R16.4bn fair value decline in listed equity portfolio.
NPL ratio at 41.7% (IFRS) — significantly above peer average of 5.4%
Stress testing indicates DSCR falls below 1.0x in severe rate scenarios.
Sasol (8.2% stake, R11.68bn) suspended dividends in FY2025
Previously contributed R906m. Monitor real-time valuation.
Total Assets
4.2%
R144.3bn
From R36.6bn (2005) — 20Y CAGR 7.2%
Group Profit
95.3%
R329m
From R7.0bn (FY2024) — Lowest since 2018
Listed Equity FV
35.2%
R30.1bn
21% of total assets — 88% in 3 stocks
Gearing
2.1pp
49.3%
Threshold 60% — Headroom R15.4bn
NPL Ratio (IFRS)
3.2pp
41.7%
Peer avg 5.4% — critical watch
Disbursements
2.5%
R16.3bn
Supporting 14,892 jobs · 234 projects
20Y Trajectory
Total assets
Balance sheet evolution from FY2005 through FY2025 — the long arc of expansion now in retreat.
Composition
Portfolio mix
FY2025
Loans & Advances58%
Listed Equities21%
Cash & Equivalents8%
Property & Other7%
Intangibles6%
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Modules
Each surface is built from primary disclosures — click through to the detailed analysis.
Strategic Timeline
What moved the needle
A chronology of policy, market, and regulatory events shaping IDC's mandate.
Feb 2025
Critical Minerals Strategy Published
Government strategy creates opportunity for IDC mining finance expansion.
Jan 2025
SARB Repo Rate Cut Begins
Cutting cycle from 7.75% to 7.0% — easing pressure on funding costs.
Dec 2024
JETP $13.7bn Pledged
Just Energy Transition Partnership creates green finance pipeline.
Nov 2024
S&P Upgrade to BB (Positive)
Improved sovereign outlook reduces funding spreads.
Sep 2024
Sasol Dividend Suspended
Zero dividend vs R906m prior — direct P&L impact.
Aug 2024
BW7 Solar Bid Window
3,940MW solar procurement opens renewable project pipeline.
Upcoming
Green Hydrogen Fund Launch
IDC positioned as lead agency — potential R5bn fund.
Upcoming
Sports Fund Proposal
R2-5bn blended finance fund for sports infrastructure.