The Industrial Development Corporation (IDC) said it will almost double its CSI budget in the 2012/13 financial year in a bid to boost development in rural areas and marginalised communities.
The IDC will spend R37 million on corporate social investments (CSI) in 2012/13, with around half going for education, supporting basic education and skill development. This is in line with the Basic education accord signed at Nedlac in 2011, in support of the New Growth Path.
Almost R10 million will support 18 poor schools nationally which will be adopted by the IDC for a period of 3-5 years. A model of whole school development will be implemented with the aim of improving the quality of education outcome in each of these schools.
“Given government’s focus on improving skills, at least R7 million will be spent on supporting FET colleges and university programmes that are aligned to the addressing critical skills development.” said Tebogo Molefe, CSI manager at IDC.
The balance is earmarked for supporting sustainable livelihoods projects which are aimed at enabling micro or survivalist community enterprises to generate income for poverty alleviation.
The IDC said it sees CSI as an important complement to its core mandate, which is to build industrial capacity development, especially in initiatives that support employment creation.
The IDC CSI also spends on the refurbishment of public health facilities through partnerships with other NGOs in the healthcare