DR. THEO NELL HAS BEEN APPOINTED AS THE NEW HEAD OF HUMAN RESOURCES AT ITHALA SOC LIMITED.

By Ithala SOC Limited / 19/01/2023

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Dr. Theo Nell has been appointed as the new Head of Human Resources at Ithala SOC Limited, a 100% owned subsidiary of Ithala Development Finance Corporation.

His appointment came into effect on the 1st of December 2022. He was appointed at Ithala SOC in August 2019 as an Organizational Development and Change Management Specialist.

Dr. Nell is a registered Industrial Psychologist and holds an MA in Industrial Psychology (Cum Laude) and a DPhil in Leadership in Performance and Change.

His expertise in the banking industry spans over 25 years, where he held various positions in Human Resources, Finance, Payment Systems, and Home Loans.

He started his career as an Industrial Psychologist at the Department of Correctional Services and before joining Ithala SOC, was responsible for various Human Resources functions at the University of Cape Town.

“We would like to welcome Dr. Nell as the new Head of Human Resources.  We do not doubt that he will be a great asset and addition to the Ithala SOC management team and will assist Ithala SOC in re-shaping the organization to ensure 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.” Says, Dr. Thulani Vilakazi.

ENDS//

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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.