Ithala appoints first female Group Chief Executive
Ithala Development Finance Corporation Limited has reached a milestone in its rich 51 year history by announcing the appointment of Ms Yvonne Zwane as its first female Group Chief Executive.
The appointment emphasizes the importance of balancing development outcomes and financial sustainability imperatives for such a key agency of change for KwaZulu-Natal.
It also recognizes the pivotal role and influence that women should and are playing in the socio-economic development arena.
Zwane joins Ithala from First National Bank Public Sector Banking, where she held the position of CEO: National Government Business, responsible for providing strategic direction for the sector in that organisation.
Prior to her appointment as CEO, she was FNB’s Provincial Director managing the Public Sector Banking portfolio, operating with a R20bn budget and driving FNB’s banking strategy in KwaZulu-Natal.
She was responsible for the strategic management of the provincial portfolio in terms of maintaining and ensuring service levels, as well as managing risk and maintaining relationships with clients to ensure profitability and client retention.
She holds an MBL, a B Com Accounting, a University Educational Diploma and a CAIB (SA) - Institute of Bankers South Africa.
From her first placement at Standard Bank in 1984, her assertive, decisive and results-focused capabilities have seen her rise through the ranks with 27 years of banking experience in retail, commercial, Risk Management, Credit, Insolvent Estates and Corporate Banking.
Commenting on the historic appointment, Ithala Group Chairman, Dr Mandla Gantsho said: "Ithala is poised to “RISE AGAIN” under the leadership of this woman of substance.
The Board is proud of her appointment and confident that her comprehensive banking knowledge and experience will help transform the Group into a financially sustainable development change agent in KwaZulu-Natal and beyond”.
On behalf of the provincial government of KwaZulu-Natal, Mr Michael Mabuyakhulu, MEC for Economic Development and Tourism, praised the appointment of Ms Yvonne Zwane as a move that puts Ithala in a good position to meet its strategy objectives.
He further congratulated the Board for moving swiftly to fill the position of Group Chief Executive.
“We welcome Ms Zwane into our fold and as the provincial government, we will provide her with all the support she needs to lead Ithala to delivering tangible socio-economic impact in our province,” said Mabuyakhulu.
Commenting on her appointment, Zwane said: “It is an honour to be given an opportunity to lead Ithala Development Finance Corporation to the next level.
I am joining an organization which has huge potential and great people. Having spent many years in the financial services sector and having had an opportunity to work with various public sector entities, I am looking forward to being part of the Ithala team and exploring the opportunities which will bring financial sustainability and development for the province and its people in accordance with the government’s mandate.
Ithala is the economic vehicle which gives communities an opportunity to participate in growth and development within the province.
My commitment is to build sustainable collaborations with all stakeholders being government, communities and private sector in order to achieve the primary objectives of the organisation.
Backed by her vast experience, coupled with her ability to lead, influence, train and motivate, Yvonne Zwane is all set to take the helm at Ithala and lead the organisation forward in its quest to become a first class development financial institution.