Nchocho appointed to replace Qhena as head of IDC
Cabinet on Wednesday approved the appointment of Tshokolo (TP) Nchocho as Industrial Development Corporation (IDC) CEO on a five-year contract, effective early in 2019.
Nchocho has multiple Masters degrees and more than 28 years’ experience in development finance and banking, including 13 years at the Development Bank of Southern Africa and almost four years at the Land and Agricultural Development Bank of South Africa.
His appointment follows a detailed selection process, including the constitution of a board subcommittee to consider the CEO vacancy and the appointment of an executive search firm to assist with identifying candidates for shortlisting.
Outgoing CEO Geoffrey Qhena had served for almost 20 years as an official of the IDC, with 13 of those as CEO.
Highlights from his term included funding the programme for renewable energy and the investment in the country’s first new light passenger vehicle plant, in Coega, in the Eastern Cape.
“Under Geoffrey’s leadership, the IDC consolidated its position as the country’s largest development finance institute (DFI) and introduced its black industrialists programme. Geoffrey worked closely with the [Economic Development] Ministry and the IDC board to expand the level of industrial funding, with special measures to boost lending to youth entrepreneurs and women-empowered enterprises," Economic Development Minister Ebrahim Patel said in a statement.
“I look forward to working with TP in expanding and deepening the IDC investment impact and look forward to the contribution he will bring to the position, having worked in leadership roles in two of South Africa’s other large DFIs,” Patel added.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation