For IDC funding, the following will apply:
• The purchaser must be a historically disadvantaged person or majority black-owned business
• At least 50% of the total IDC funding required is to be reinvested into the company for growth and expansion and additional
jobs must be created. Pure acquisitions may be considered for qualifying businesses e.g. Black Industrialist
Well interesting days ahead to see the terms, I guess we see now why Jac left the building.
Historically disadvantaged is about right!!
Ann: West Wits Obtains Interest From IDC For Debt Facility, page-28
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