GROUP CORPORATE PROFILE
The Ithala Development Finance Corporation Limited ('Ithala'),
KwaZulu-Natal’s Provincial development finance agency is mandated to promote
development within the Province.
The primary development
focus of Ithala is to increase the participation of black people in all sectors
of the economy, and positively impact on job creation, skills development and
training. Ithala has three major wholly owned subsidiaries, namely Ithala
Limited, the KZN Growth Fund Managers and Ubuciko Twines and Fabrics (Pty) Ltd.
solutions are designed to meet the needs of established businesses and emerging
entrepreneurs through the provision of short, medium and long-term lending
products. Ithala focuses on the agriculture, agri-processing, services, trade,
manufacturing, construction and tourism with specific geographic areas of the
province that will best realise developmental impact.
Lending Programme is aimed at mobilising communities in KwaZulu-Natal to form
co-operatives and access much needed finance. The programme is intended to
contribute towards increasing disposable income amongst participants in the
second economy with the view to reducing poverty and unemployment.
Business support is a
critical factor to ensuring successful enterprises and Ithala has regional
Business Centres throughout the municipal districts of KwaZulu-Natal. This
support network is coupled with skills development and mentorship programme
aimed at assisting emerging entrepreneurs.
Ithala Properties focuses
on the development and facilities management of industrial, commercial and small
business infrastructure projects. Ithala owns a large property portfolio in
KwaZulu-Natal that includes industrial estates, retail and commercial premises
and light industry factories. The property portfolio is a leading agent for
stimulating economic development in the Province.
Ithala SOC Limited
Ithala SOC Limited provides
a range of key savings and investments products, insurance services and personal
and home loan products to communities throughout the Province via an extensive
distribution network of branches. Ithala SOC Limited was the pioneer into the
unbanked sector and despite commercial banking having moved into this market,
Ithala Limited remains focussed and committed to fostering a culture of savings
amongst historically disadvantaged communities.
KZN Growth Fund Managers
The KZN Growth Fund
Managers primary mandate is investment in infrastructure to promote economic
development with in the Province. The Growth Fund endeavours to ensure an even
spatial distribution of investment across the province. All the projects,
furthermore, are undertaken with a view to broadening participation in the
economy, with special emphasis on Black Economic Empowerment.