BANKING ON DEVELOPMENT, BBQ (Black Business Quarterly), Page 96
The Development Bank of Southern Africa (DBSA), which is one of South Africa's 13 development finance institutions (DFIs), has in the past few years made its name by churning out billions of rand for infrastructure projects in the region.
The Midrand-based DFI, launched in 1983, has grown its disbursements from R3.7 billion in 2006 to around R8 billion in 2011/12. According to the DBSA, this is equivalent to a compounded annual growth rate of 22% between 2006 and 2011. The country's DFIs include the Industrial Development Corporation, which is the state-owned agency responsible for providing financing to businesses in competitive industries. Then there is the National Empowerment Fund, which promotes and facilitates black economic empowerment (BEE) and transformation. Its order to mobilise finance and expertise for development projects.