ITHALA CONTINUES TO GAIN RECOGNITION FOR ITS IMPACT ON SOCIETY THROUGH CORNERSTONE PARTNERSHIPS

By Ithala SOC Limited / 01/03/2023

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Ithala SOC Limited’s critical role in many sectors in KwaZulu-Natal continues to grow at an alarming rate since the financial institution has entered into partnerships with many organizations. The financial services provider collaboration is evident as it received recognition from various sectors in the past year.

The state-owned entity provides full banking services – is already fully regulated by the South African Reserve Bank and other banking industry regulators – and is fully committed to ensuring compliance with all applicable regulations.

The financial institution recently received awards of recognition and excellence for its impact locally and nationally. Ithala was invited to the awards hosted by the Mutual & Federal 2022 Naledi Awards function held in Sandton. The financial institution walked away with Customer Champion Award presented by Mutual & Federal Risk Financing Limited.

“We pride ourselves on the kind of service we offer our customers on our short-term insurance. We are proud of this accomplishment” Says, the CEO of Ithala SOC Limited, Dr. Vilakazi.

These were not the only awards received by Ithala. HR also received an award for:

  • A long-standing commitment to cooperative education & Work Integrated Learning (WIL).
  • Hosting the most Lectures for Workplace Based exposure (WBE) 2021- 2022.
  • The Top Banking Sector Company.
  • SETA Industry company partnership for WIL.

According to Dr. Thulani Vilakazi, the CEO of the institution, “as we celebrate these accomplishments we are reminded about the core mandate of our organization which is to give back to our communities, especially the previously disadvantaged communities.

“We run this program in conjunction with the colleges. It allows learners to attain 18 months’ practical experience in their field of study and enables them to get a National Diploma upon completion,” Dr. Vilakazi said.

“The recognition we continue to receive places us in a great position to ensure that our existing customers are happy with our services and also be in a position to attract new ones. This recognition is a testament to potential customers, that as a financial institution, we stand ready to cater to our customers for their different needs,” Dr. Vilakazi said. For more information, visit www.myithala.co.za, call 031 366 2500 or follow #MoveToIthala #RedefiningWealth #StateBank #MyIthala

 

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.