INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LIMITED - IN02 - Resignation of Chief Financial Officer and Executive Director

IN02 - Resignation of Chief Financial Officer and Executive Director

  Industrial Development Corporation of South Africa Limited
  Incorporated in the Republic of South Africa
  Registration No. 1940/014201/06)
  Issuer code: IN02
  (the “IDC” or the “Issuer” or the “Group”)

  RESIGNATION OF CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR

  In accordance with paragraph 6.42 of the JSE Limited (“JSE”) Debt and Specialist Securities   Listings Requirements, 
  the Industrial Development Corporation of South Africa Limited (“the   Corporation”) hereby advises noteholders of the 
  resignation of the Chief Financial Officer   (“CFO”) and Executive Director, Mr Isaac Malevu (“Mr Malevu”), effective 30 November 2026.

  Mr Malevu joined the IDC in 2020 at the height of the COVID-19 pandemic, transitioning from the private sector with a deliberate commitment 
  to contributing to the development finance sector amid the uncertainties of the pandemic. Since then, he has served the Corporation for
  almost six years, contributing to the Corporation’s sound financial stewardship, governance,   institutional stability, instilling investor 
  confidence and continuity through a period of senior leadership transition. He will be returning to the commercial sector to pursue the next 
  chapter of his professional career in the private sector and will continue to contribute and support   public-private partnerships that advance 
  sustainable development and economic growth.

  The Board expresses its appreciation to Mr Malevu for his dedicated service, commitment and contribution to the IDC, and wishes him well in the 
  next chapter of his professional journey.

  The IDC will communicate any further developments regarding the CFO role in due course. The Corporation remains committed to ensuring an orderly 
  transition and continuity in its financial leadership.


  03 September 2026

  Debt Sponsor: The Standard Bank of South Africa Limited
 
Date: 03/09/2026 03:59:00
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