South Africa’s Industrial Development Corporation (IDC) was once the powerhouse that helped fund Eskom, Iscor and Sasol building world-class industries. Today, it’s sitting on R90 billion in investments… but under the ANC’s watch, billions are being poured into bailouts, bad debts and dodgy schemes. From writing off R4 billion in bad debts in a single year, to handing Ford, GM and VW R2.2 billion, to bailing out ArcelorMittal with R1.7 billion (only for them to close plants anyway) the IDC is fa