Ithala celebrated transport Month with a milestone achievement that saw their valued clients adding more taxis within the fleet through its unique taxi finance service offering. Working closer with KwaMashu Taxi Association, Ithala SOC Limited delivered ten taxis to 10 taxi owners on Saturday in northern Durban township, KwaMashu. The event, flanked by taxi heavyweights from the association, was hailed as a step in the right direction in restoring and rebuilding the province together with other key stakeholders, which work hand in hand to ensure sustainability within the economy of KwaZulu Natal.
While receiving their taxis, among seven women and two men, Mrs. Thembelihle Ntuli – under the KwaMashu Taxi Association, hailed Ithala as a caring institution. ‘’Let me start by thanking Ithala and those who have constantly kept us on our toes and sent us questions, resulting in us getting our taxis. I want to thank our Chairman, Mr. Philani Ngwenya of KwaMashu Taxi Association, who played a vital role in assisting us as taxi owners.” Said, Ntuli.
“I’m very excited because I have always wanted to add more taxis, but my problem was getting finance. Commercial banks turned us down & other banks gave us high-interest rates. Ithala’s process was easy and very short”. She concluded.
“We have simplified our taxi finance processes to make them user-friendly to our clients. Our competitive interest rates and customer service are an added advantage.” Says the CEO of Ithala SOC Limited, Dr. Thulani Vilakazi.
An elated Nhlanhla Buthabela, who also received one taxi to add more to his fleet of taxis operating in the KwaMashu and Ntuzuma area, also confirmed that they tried to apply in other banks to buy their taxis as an association and also in bulk but failed.
“I would like to thank Ithala for making it possible for taxi associations to buy in bulk. It is very convenient and makes it easy and possible to enter the industry. I would also like to thank the KwaMashu Taxi Association. I hope Ithala can give more opportunities like these to other people like myself and be able to take my kids to varsity and grow the Buthabela Legacy for my kids and generations to come.” Says Mr. Buthabela.
The taxi industry is dominated by men, there is a shift that is happening with more women getting a slice of the industry. According to Ms. Maria Kunene – who was also handed over a taxi – seeing women dominating the handover was one of her highlights.
“I am excited that I finally got my taxi and that the handover function was dominated by women,” said Ms. Kunene.
Besides getting a taxi for Kunene, there is more that she thinks Ithala can assist her with going forward. Ithala has always been at the forefront of helping Ordinary South Africans, and people from disadvantaged backgrounds create wealth and get out of poverty. Ithala believes in helping ordinary South Africans create and look after the wealth of their families. This is often a dream for many ordinary South Africans and as Ithala, we are here to make it a reality. Says Ithala CEO, DR. Thulani Vilakazi.
“I am happy about their assistance and wish they do this to many more people,” concludes Kunene.
Ithala has promised to continue to work with various associations across the province to assist more people in the industry.
“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 60 months at a competitive interest rate. We are looking forward to handing over more taxis before this year ends. Said 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, call 031 366 2500. Follow us on Facebook @MyIthala, Twitter @MyIthala, Instagram @MyIthala, LinkedIn Ithala SOC Limited, #RedefiningWealth #IthalaMoneyTalks #MoveToIthala #StateBank
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Issued by: Ithala SOC Limited Head Office
303 Dr. Pixley KaSeme (West Street)
15th Floor Delta Towers

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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.