Overview
As the Ithala Development Finance Corporation (IDFC) we manage fully integrated business activities that provide a range of financial and property services throughout KwaZulu Natal. Our mandate is to promote development in the province.
The Ithala Development Finance Corporation Limited (IDFC or Ithala) was established in 1958 as a development finance agency, wholly owned by the province of KwaZulu-Natal, mandated to assist government in promoting economic development and empowerment in the province. In its current form, Ithala functions through the promulgation of the KwaZulu-Natal Ithala Development Finance Corporation Act, 2013 (Act No. 5 of 2013), under them oversight of the Board and reports to the Provincial Department of Economic Development, Tourism and Environmental Affairs (EDTEA). Ithala is listed as a Schedule 3D Provincial Business Enterprise in terms of the Public Finance Management Act (No. 1 of 1999, as amended) (PFMA).
Our Mission
In
- Promote
investment in development programmes and projects; - Optimise
the property portfolio for tenant retention and attraction, and priority sector development; - Support
SMME’ s and co- operatives to be sustainable participants in the economy; - Serve
as the preferred implementing agent for economic and infrastructure development projects in the province; and - Facilitate
programmes that drive radical economic transformation.
Our Vision
To be the catalyst for growth, socio-economic development, and empowerment in the KwaZulu-Natal Province.
Our Purpose
- To achieve the intended impact of sustainable and competitive SMME’s and co-operatives contributing meaningfully to radical socio-economic transformation and job creation in the KwaZulu-Natal Province.
Ethics & Values
- Our PASSION for making a difference is what drives us
- We act with INTEGRITY
- We strive to be FUTURE-FOCUSED
- We lead through SERVICE
- We treat everyone with RESPECT
Our Objectives
- To mobilize financial resources and to provide financial and supportive services to the people of KwaZulu-Natal.
- To plan, execute, finance and monitor the implementation of development projects and programmes in the Province.
- To promote, assist and encourage the development of the Province's human resources and its social, economic, financial and physical infrastructure.
- To promote, encourage and facilitate private sector investment in the Province and the participation of private sector
- To act as the Government's agent for performing any development-related tasks and responsibilities that the Government considers may be more efficiently or effectively performed by a corporate entity.
