Published: 23 August 2013

The Industrial Development Corporation, a commercial arm of government, is contemplating changing its business model from a venture capital company to a development financial institution. Venture capital companies usually get significant control over company decisions in addition to a significant portion of equity in a company.

IDC's original mandate was to promote the establishment of new industrial enterprises and the rehabilitation of existing ones but the firm had become more of a management services holding entity after the formation of Zimbabwe Development Bank and the Small Enterprise Development Corporation in the 80s.

Michael Ndudzo, IDC's Group chief executive officer said last week that the conglomerate was working on a strategy to move away from managing own subsidiaries as is the case at the moment.
- fingaz

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