BIC, noun

/biː aɪ ˈsi/
Forms:
Also B.I.C.
historical
Initial letters of Bantu Investment Corporation, a government body promoting industrial and other development in the homelands. Also attributive. See also homeland.
Note:
Founded in 1959, it was renamed the Corporation for Economic Development in 1977.
[1960 State of Union 1959–60 99To promote industrial and other undertakings and to act as a development, financial and investment institution among Bantu in the Bantu reserves, the Government introduced in 1958 the Bantu Investment Corporation Bill, which has since been passed by Parliament.]
1970 Daily News 7 MayBIC’s five-year plan envisages four African homeland growth points through the country.
1971 S. Afr. Panorama Nov. 43The Bantu Investment Corporation of South Africa Limited..has developed into a large organisation...The managing director of a bus service in the Tswana Homeland..payed [sic] back his loan of R152 000 with the B.I.C. within 21 months.
1974 Drum 8 Aug. 27I became suspicious of the activities of the Bantu Investment Corporation when an offer of a bottle store was made to me. The message was brought to me by a newsman who assured me that the BIC would finance me.
c1978 S. Afr. 1977: Off. Yrbk (Dept of Info.) 512The primary objective of the CED (known as the Bantu Investment Corporation (BIC) prior to 15 June 1977 and established in 1959) embraces the promotion of economic viability in the Black homelands.
1988 S. Motau in Frontline Feb. 22Mr Masinga says the corporation is viewed as a ‘disguised B.I.C. (Bantu Investment Corporation)’.
Initial letters of Bantu Investment Corporation, a government body promoting industrial and other development in the homelands. Also attributive.
Entry Navigation

Visualise Quotations

Quotation summary

Senses

19601988

Browse Related Words

By Category

Government and Administration
Apartheid

By Usage

acronyms
historical
Bible desk, noun phrasen. phr.biesie, nounn.
Copyright © 2025 Dictionary Unit for South African English