Mmakgoshi Lekhethe's journey to the leadership of the IDC

MMAKGOSHI Lekhethe, the first female CEO of the Industrial Development Corporation (IDC), is a trailblazing leader who officially took office in February 2025. Her star shines bright.

- PHILIPPA LARKIN

In an interview with Business Report, shortly after presenting the IDC’s annual results, Lekhethe reflected on the path that led her to head one of South Africa's most influential development finance institutions. The IDC’s mandate is to drive sustainable economic growth and build inclusive economies by promoting industrialisation, supporting entrepreneurship, and fostering job creation, particularly for black-owned businesses, women, and youth.

Lekhethe was born in Lydenburg, Mpumalanga.

She grew up in a family of five children, the only girl among four brothers. At the age of five, she moved with her family to Burgersfort, a small mining town in Mpumalanga. Her mother was a primary school principal, instilling in her the values of discipline and hard work.

Her father, who had worked as a hospital administrator in Lydenburg, was, as she describes him, “a born entrepreneur.”

In Burgersfort, he opened a general dealership, where Lekhethe spent her school holidays helping behind the till, doing stock counts, and assisting with banking.

“I learnt there the lessons about accuracy, about the love for numbers and what they mean, but also the ability to be trusted with responsibility,” she recalls.

At 12, Lekhethe went to boarding school in Limpopo.

When it came time for tertiary education she chose to pursue a BCom majoring in economics, inspired by the influence of her father. “I remember my dad asking, ‘Are you sure? Why do you want to do this?’ and I told him it would help with growing his business and the future.” While her brothers went into science and medicine, she alone chose commerce.

She completed her Bachelor of Commerce degree in Economics at the University of KwaZulu-Natal, followed by a Bachelor of Commerce (Honours) at Wits University, before adding Master of Science in Economics from the University of London.