Lumkile Mondi, chief economist at the Industrial Development Corporation (IDC), the South African state-owned development finance body, speaking at the African Investment Forum organised by the Commonwealth Business Council, has said the entity could have invested more than the R6.2-billion it did in the year to March had it found the right partners and entrepreneurs who were willing to take on risk.

Mondi indicated that the IDC was looking at new sectors, such as shipbuilding, biotechnology and clean technologies. Including in the IDC’s portfolio are investments in chemicals, textiles, metals, construction, food, franchising and mining. It had approved loans of R7-billion for projects in Africa – 80 of them across 25 countries.