Jan 29, 2023

MEC Duma Commits To Working With Ithala

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The MEC took this drive to further demonstrate his conviction and determination in supporting the transformation of the financial sector industry.

FILE PHOTO: MEC of EDTEA, Mr Siboniso Duma opening Ithala bank account in Durban. PICTURE: Supplied

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DURBAN: MEC of EDTEA, Mr Siboniso Duma has vowed to make Ithala SOC Limited the financial institution of choice as he opens a bank account.

The financial institution received a boost from KwaZulu-Natal Member of the Executive Council (MEC), Mr. Siboniso Duma as he leads the province by opening the financial institution’s bank account. The MEC took this drive to further demonstrate his conviction and determination in supporting the transformation of the financial sector industry.

Ithala SOC Limited has been at the forefront of driving the transformation agenda and championing the needs of ordinary South Africans, especially those in rural areas. Formed in the early 2000s, Ithala has demonstrated its commitment to driving the social transformation agenda in the province by banking the unbanked.

The MEC has called on the government of KwaZulu-Natal to rally behind the calls to show their faith by opening an Ithala bank account.

According to the MEC, “We call on government institutions, private and public companies, SMMEs present here today, and individuals to rally behind this call. We hope as we demonstrate our commitment to institutions such as Ithala, everyone will heed our call and open their account,” he said.

“We must not be apologists of the state, instead of economic freedom. We are encouraging our people to learn to save money. It is our mission as a government to advise our people to change their minds and participate in the economy of our country. People must stop looking down on facilities designed to benefit them, such as Ithala Bank,” Mr Duma said. .

Ithala SOC Limited is the only state-owned entity that provides full banking services. It is fully regulated by the South African Reserve Bank and other banking industry regulators and is fully committed to ensuring compliance with all applicable regulations.

“As the African peoples of SA, we must ask ourselves how much information have we been able to collate since the dawn of democracy. Have we produced enough engineers to help in the development and advancement of the state? We are involved in the struggle to change our country,” he ended.

A current distribution network of 38 branches in KZN provides convenient transacting facilities. Ithala offers a comprehensive portfolio of corporate and personal banking solutions.

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