The Industrial Development Corporation (IDC) marked a historic milestone with the appointment of Mmakgoshi Lekhethe as its first woman CEO, which it announced on Thursday.
This announcement follows the Cabinet’s approval of the IDC Board’s recommendation during a meeting on December 4, 2024.
Lekhethe will play an important role in furthering the IDC’s mandate as it funds industrial development projects, plays a catalytic role in promoting partnerships across industries within and outside South African borders and promotes regional economic growth.
It disbursed R15.9 billion into the economy in the year to March 31.
Lekhethe brings over two decades of experience in public finance and a proven track record of leadership in global financial institutions, multilateral development banks and prominent economic platforms such as the G20, World Economic Forum (WEF) and BRICS.
She currently serves as Deputy Director-General: Asset and Liability Management at the National Treasury, where she has led initiatives focused on economic and financial sector integration across domestic and regional markets.
Her academic credentials include a BCom in Economics from the University of Durban Westville, a BCom Honours in Economics from the University of the Witwatersrand, and an MSc in International Economics from the University of London’s School of Oriental and African Studies (SOAS).
“The Board of the IDC is delighted to welcome Lekhethe as our new CEO and look forward to leveraging her exceptional leadership skills, strategic insights, and deep industry knowledge. Her experience and appointment is a testament to her suitability to lead the IDC and contribute to its mandate,” said IDC board chairperson Busi Mabuza.
“The Board would like to thank the IDC leadership team, especially the interim CEO David Jarvis, for leading the organisation during the search process. The continuity and stability of the IDC during this interim period will serve as a strong foundation for Lekhethe to build upon,” she said.
Trade, Industry, and Competition Minister Parks Tau lauded the appointment as a historic milestone for South Africa. Tau said this development reflects government’s commitment to promoting gender diversity and representation in leadership roles.
“Lekhete’s extensive experience and leadership experience will undoubtedly advance the IDC’s critical role in driving industrial development and economic transformation,” said Tau.
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