The IDC, who need no introduction, will be supporting the Midlands project by providing bridging finance to a group of individuals who have been offered 20% (twenty per centum) of the equity in the Midlands project.
The process of identifying these individuals has been driven by Mr. Solly Mlondolozi (Mondi) and Mr. Yusuf Thika (Edulis), assisted by Equity Africa and Zimele and has culminated in the final 4 candidates completing the Entrepreneurial Test used by Zimele in their evaluation process.
The following persons have been invited to take up shareholding in the consortium:
- Professor Shabalala,who is a senior economic policy advisor in the office of the Premier of KwaZulu-Natal;
- Mr. Merick Habile, an experienced businessman with links to Woolworths;
- Ms. Maud Ngema, businesswomen with particular skills in human resource systems and development;
- Mr. Kenneth Mbili, having development experience including cash flow management, production planning and management and business plan implementation.