This paper attempts to answer if the Industrial Development Corporation (IDC) can or should emulate the funding methodology of the Brazilian Economic and Social Development Bank (BNDES). The funding methodology of BNDES is discussed in terms of how it sources and applies its funds within the Brazilian economy following the Brazilian government’s strategy; compares this to industrial policy formulation in the South African economy and the IDC taking into consideration the South African economic structures, banking system and the multiple developmental institutions South Africa has. The conclusion answers if South Africa will be able to emulate BNDES.