ITHALA TAXI FINANCE IN AN ONGOING JOURNEY ON HELPING ORDINARY SOUTH AFRICANS CREATE WEALTH THROUGH THE TAXI BUSINESS.

By Ithala SOC Limited / 18/11/2021

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Ithala SOC Limited closed off the transport month by handing out 9 taxi keys to 9 taxi owners who are under Thuthukani Taxi Association in the Verelum area.

The 9 taxi owners were beaming with joy as they would be able to support their families through the taxi business. This was confirmed by Mr. Hlanganani Mkhize who was also handed the car keys of a new taxi on the 26th of October 2021. I’m filled with joy as Ithala was able to help me finance my car through their taxi finance. This business was started by my father, we were able to go to school with my siblings through the taxi business and I’m also able to send my kids to good schools and put food on the table because of this business. Says Mr. Mkhize.

 

Ithala has always been at the forefront when it comes to helping Ordinary South Africans and people from disadvantaged backgrounds create wealth and also get out of poverty. Ithala believes in helping ordinary South Africans create and look after the wealth of their families, Says Ithala CEO, DR. Thulani Vilakazi.

 

A pioneer in banking the unbanked in KwaZulu-Natal, Ithala SOC Limited is a registered financial services provider mandated to help ordinary South Africans to manage money and create wealth. “We have simplified our taxi finance process to make it easier for our clients.

Our competitive rates are an added advantage to our clients as they make the monthly repayments affordable which is a big deciding factor for clients when deciding where to get finance. ” Said CEO of Ithala SOC Limited, Dr. Vilakazi.

This was confirmed by another member of the Thuthukani taxi association Mr. Mbuyiselo Mdanda. “We approached several commercial banks for assistance in taxi finance but all of them turned us down. We then approached Ithala which had a different approach, offering us taxi finance as an association. The process was quick and easy.

 

Ithala, a licensed financial service provider offers clients through a hire-purchase agreement to buy a commercial vehicle that will be used to ferry passengers and is properly registered with a taxi industry regulatory body.

 

“Ithala SOC Limited offers affordable interest rates because we believe that every South African deserves access to affordable banking services. The taxi finance service offering provides incredible benefits for an ordinary South African to own a commercial vehicle and pay back the loan over up to 60 months at a competitive interest rate,” concludes Dr. Vilakazi.

 

 

Ithala SOC Limited is the only state-owned entity that provides full banking services; 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.

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

For more information visit www.myithala.co.za, call 031 366 2500. Follow us on Facebook @MyIthala, Twitter @MyIthala, Instagram @MyIthala, LinkedIn Ithala SOC Limited, #RedefiningWealth #IthalaMoneyTalks #MoveToIthala #StateBank

 

 

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.