DashboardMacro
Macroeconomic Context
The terrain
IDC operates on.
GDP R4.6trn · 0.6% growth → 1.8% forecast · Repo 7.0% · Rand R17.86/$ · cycle inflecting toward recovery.
GDP (2024)
R4.6trn
+0.6% → 1.8%f
SARB Repo
7.00%
Cutting cycle 8.25% → 6.75%f
Rand / USD
R17.86
1Y range R17.10 – R19.50
Unemployment
31.4%
Expanded 42.1% · Youth 59.2%
Govt Debt / GDP
76.1%
Stabilising · consolidation
Sovereign Ratings
Ba2 / BB / BB-
S&P: Positive outlook
Headline CPI
3.0%
Within 3-6% target · Dec 24
Current A/C
-0.5%
From -3.8% (2020) — improving
15Y Trend
South Africa GDP growth
Real annual %
SA has averaged 1.7% growth since 2015 — well below 3% potential. 2025f recovery on improved energy supply.
2024
Economy by sector
R4.6trn GDP
Finance22%
Trade12%
Manufacturing11.2%
Government10%
Transport8%
Mining6.1%
Construction3.5%
Agriculture2.2%
Industrial Policy
IDC alignment matrix
National priorities vs business unit focus
BEHIND
NDP 2030
R12.3bn
NDP-aligned investments
ON TRACK
JETP
$13.7bn
International partnership pledged
NEW
Critical Minerals
R2.4bn
Strategy approvals · 30 minerals
ACTIVE
REIPPPP
3,940MW
BW7 solar bid window open
LEAD AGENCY
Green Hydrogen
R5bn
Pipeline · IDC lead role
BEHIND
SAAM 2035
R1.8bn
Manufacturing master plan
Strategic
Mining & Metals
IDC exposure
16.7% of book
R24.1bn
GDP contribution
6.1%
Critical minerals
identified
30
2025 Production Δ
Manganese+5%
Chromium+3.9%
Iron Ore+3%
Coal-0.7%
Gold-1.7%
PGMs-4.1%
Growing
Agriculture
GDP
2.2%
Record exports
+10% YoY
$15.1bn
IDC approvals
+94% YoY
R1bn
Grain/CerealsR3.2bn
HorticultureR2.8bn
PoultryR2.1bn
DairyR1.5bn
Red MeatR1.2bn
Declining
Manufacturing
GDP
Down from 15% (2000)
11.2%
Target 2030
NDP target
20%
PMI
Expansion
52.6
Metals/SteelR5.2bn
ChemicalsR4.1bn
TextilesR2.8bn
AutomotiveR2.1bn
Lead Agency
Energy transition
From fossil fuels to green hydrogen — IDC as lead development finance agency.
322+ days
without loadshedding
Portfolio Split
Renewable projects42%
Fossil fuel transition35%
Grid/infrastructure18%
Green hydrogen5%
REIPPPP BW7
3,940MW solar pipeline
Green Hydrogen
R1.8bn committed · R5bn pipeline
JETP
$13.7bn international partnership
Operation Vulindlela II
7 reform areas (2025)