APPOINTMENT OF YEDWA MBALI MJIAKO, BOARD MEMBER: ITHALA SOC LIMITED

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Thursday, 06 October 2022

Mbali Mjiako is a new addition to the Ithala SOC Limited proficient board, a 100% owned subsidiary of Ithala Development Finance Corporation.

Her expertise in the business and banking industry spans over 20 years, including her experience serving as a board member and seats on different board committees.

Mbali is a certified internal auditor (CIA) with Certification in Control Self-Assessment (CCSA); B. Com qualification from Vista University; MBA from the Thames Valley University of London in Association with Milpark Business School; Quality Assessment Review (QAR) from Institute of Internal Auditors Inc; Certificate in Executive Leadership Development Program run by National Association of Black Accountants (NABA) in association with Harvard University and as well as an International Executive Leadership Development (IEDP) with BANKSETA through WITS and CASS business schools.

Her work history includes humble beginnings as an assistant to Senior Partner at Fisher Hoffman Sithole to being a Chief Director: Internal Audit at National Treasury years later; Head of Business Risk Management at Absa Financial Services; Managing Director and Head of Mortgage Fund Managers at ABSA; Absa Retail and Business Bank (RBB), Head Sectors and served Standard Bank Group Ltd as a Led and director of Corporate Functions (CF) Audits. She has served on different organizations as a board member, including the National Skills Funds Ministerial Task Team, where she is currently a board Chairperson. She has previously served as a board member at the Association of Black Accountants in Southern Africa (ABASA) and Pan-African Capital Holdings (Pty) Ltd.

“As Ithala SOC Limited board, we would like to welcome Miss Mjiako, we do not doubt that she will be a great asset and great addition to the Ithala board and will help us on our journey in shaping Ithala and ensuring that it continues to comply with all industry regulations while being in line with our mandate to make financial services easily accessible to ordinary South Africans.” Said Inkosi Sibonelo Mkhize, Deputy Chairman of Ithala SOC Limited board

Ends

Issued by: Ithala SOC Limited Head Office

303 Dr. Pixley KaSeme (West Street) 15th Floor Delta Towers

Durban

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Ithala SOC Limited, licensed financial services and registered credit provider, is a 100% owned subsidiary of Ithala Development Finance Corporation Limited, and is listed as a public entity in terms of Schedule 3 of the PFMA. In line with a recommendation from the South African Reserve Bank, Ithala SOC Limited was divided from Ithala Development Finance Corporation Limited in 2001 and has been operating under an exemption from the Banks Act 94 of 1990 (‘Banks Act’). The current exemption status is a temporary mechanism to enable Ithala to apply for and comply with the bank license requirements in terms of the Banks Act. Our purpose is to provide financial services to the people of KwaZulu-Natal, thereby contributing to the province’s socio-economic development. Our physical footprint spans the entire province of KwaZulu-Natal and, in some rural areas, we still remain the only financial institution with a physical presence.