The Industrial Development Corporation (IDC) has appointed a new regional manager in the form of Mdantsane-born Mandisi Rungqu.
The IDC is divided into two regions in the province, namely the western and eastern regions. Rungqu takes over the reins of the eastern half as the youngest manager in the organisation at age 35.
Rungqu said his immediate objectives were to increase the funding of youth-owned businesses in the area.
“The country’s economy is not in a good state and growth prospects are almost projected at nil, but it is all the more reason to push hard and stimulate economic opportunities within our province,” Rungqu said.
Having joined the corporation in 2010, he also believes in unlocking agro-processing sector opportunities.
“My time at head office certainly prepared me for this role that I have recently taken on,” he said.
The IDC has invested just more than over R1.1bn in small and medium enterprises (SME) within the province in the past five years.
Along with his team, Rungqu also hopes to increase manufacturing with black-owned entities, textiles and automotive sectors.
“With the assistance of the relevant stakeholders, we will be able to make a marked difference in the state of our province’s economy and tackle unemployment,” Rungqu added.