Mmakgoshi Lekhethe

Chief Executive Officer, IDC

Mmakgoshi Lekhethe is Chief Executive Officer of IDC, in the role since February 2025.

The Industrial Development Corporation is South Africa's state-owned development finance institution. Lekhethe is its first woman chief executive, and the group reported a R4.7 billion loss for the year to March 2026 while the company itself earned R2.3 billion.

In the job

  1. The IDC reported R17 billion in development funding disbursed and a further R28 billion mobilised for the year to March 2026. Source

  2. The IDC asked National Treasury for an explicit government guarantee as part of recapitalisation talks, after its group loss of R4.7 billion. Source

Career before

  1. 1996-2002Deputy director to chief director, foreign debt and strategy and risk management, National Treasury
  2. 3 yearsSenior economic adviser, World Bank
  3. Deputy director-general, international and regional economic policy, National Treasury
  4. 6 yearsExecutive director, African Development Bank
  5. 2022-2025Deputy director-general, asset and liability management, National Treasury

Education

Economics at the University of Durban-Westville and the University of the Witwatersrand; master's degree, University of London

Sources

  1. businessday.co.za
  2. idc.co.za

Facts last checked 3 November 2026. Spotted something out of date? Tell us.

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