STATEMENT ON THE ARREST OF A FORMER ITHALA EMPLOYEE:
The former Ithala employee who cannot be named as he still has to appear in court, is alleged to have received over R1 million for facilitating the purchase of a quarry in Port Shepstone.Bot h the investigation and arrest is welcomed by Ithala as there are ongoing efforts to root out corrupt elements within the entity.
OPERATION SIYAHLOLA VISIT TO UMSINGA CLOTHING FACTORY: Scheduled for Friday, 23rd April 2021 at the Msinga Clothing Factory (Old BATA Shoe Factory in Keats Drift) Deputy Minister for Trade, Industry and Competition Ms Nomalungelo Gina will be visiting the Msinga Clothing Factory to see the work that is being done by the omen owned company situated in the deep rural area of Umsinga.
A three-year partnership between Sumitomo Rubber SA’s iconic brand, Dunlop, and Ithala Development Finance Corporation’s Small Business Growth Enterprise division will see a minimum of 25 containerised tyre fitment centres being established across KwaZulu-Natal and 100 jobs created.
The integration of women in the formal economy across a variety of sectors without hindrance will have far reaching effects for the overall economy of the country, says Ithala Development Finance Corporation. It is against this conviction that Ithala hosted the annual Imbokodo Iyazenzela Women in Business Awards, a public platform which acknowledges exceptional businesswomen.
In response to the urgent need for job creation and to improve the wellbeing of ordinary people, Ithala has commenced a refurbishment programme to revitalise township and rural economies at its retail centres in Nongoma, Ulundi and Eshowe in northern KwaZulu-Natal
Ithala Development Finance Corporation’s new leadership team and fortified strategy was unveiled at a networking lunch today. In explaining the rationale behind the theme “Next Generation Leadership”, it was highlighted that the new Board’s leadership style was driven by fresh thinking; diversity; a strategy that supported socio-economic transformation; change as dictated by an evolving market and the need to promote financial inclusivity.
Prospect Farm School in Kwadukuza, north of Durban, has become the latest recipient of a programme on money management skills to foster a culture of savings among youth.
“In supporting government’s call for transformation, we believe women contribute significantly to the mainstream economy and must, therefore, be exposed to all the resources and opportunities required to advance in their respective careers.”
A mentorship programme to capacitate KwaZulu-Natal rural and township women with business skills to realise their dreams of becoming entrepreneurs and enjoying a better quality of life has been made possible.
Spearheaded by Ithala Development Finance Corporation, the mentorship programme is designed to help micro-level SMMEs grow and sustain their businesses.
“As the key drivers of job creation and inclusive economic growth, there is no question that SMMEs must be supported as part of our development mandate,” said Themba Mathe, Acting Chief Executive of Ithala Development Finance Corporation.
“Against the backdrop of an unfavourable economic climate, it becomes even more pressing for young people to be integrated into the job market to put an end to the cycle of poverty.”
To alleviate the effects of the drought and ensure sustainable throughput of the mill, Ithala provided a R15 million debt facility to Gledhow for on-lending to growers supplying sugar cane to the company.
“With Youth Month upon us, this should serve as a constant reminder of the plight of youth and the moral obligation we have as ordinary citizens and corporates to help elevate marginalised communities.”
The spirit of ubuntu came alive when members of Ithala Development Finance Corporation’s Corporate Social Investment team visited eight rural schools in Nongoma, Ulundi, Kwadukuza, Ixopo, Ndumo, Isithebe, Madadeni and Mandeni to deliver school uniforms.
Ithala Development Finance Corporation is embarking on a province-wide roadshow incorporating its three flagship programmes – Inkunz’isematholeni Youth in Business Competition, Siyasebenza SMME workshops and Imbokodo Iyazenzela Women in Business.
As part of a collaboration between Ithala Development Finance Corporation and the Businesswomen’s Association of South Africa (BWSA), the Top 20 nominees in the “Imbokodo Iyazenzela” Women in SMMEs Awards 2016 were hosted at a business skills development workshop in Durban this week.
The annual Business Achiever Awards hosted by Ithala Development Finance Corporation recognises and celebrates business achievements and excellence at a time when economic inclusivity is high on government’s development agenda.
Ithala Development Finance Corporation, KZN’s provincial development agency, remains optimistic that private sector investment will be key to beating the odds and stimulating growth this year. The predicted GDP growth for 2017 is forecast at 1.0 percent.
Ithala Development Finance Corporation took time out this week to visit the Lower Umfolozi Regional War Memorial Hospital in Empangeni, north of Durban, and Prince Mshiyeni memorial hospital in Umlazi, south of Durban, to play Santa and delivered toys to little patients
Ithala Development Finance Corporation (IDFC) - a catalyst for SMME development in KwaZulu-Natal and deliverer of hope for historically disadvantaged communities - is on a growth trajectory following the release of its annual financial results.
Ithala Development Finance Corporation’s 2016 Inkunz’isematholeni Youth in Business competition recently drew to a close after the evaluation of all business concepts that were submitted. “Think Innovation, Think Green” was the theme for this year’s competition and the submissions varied within the engineering, IT and science sectors.
A strategic partnership between Ithala Development Finance Corporation and local municipalities in KwaZulu-Natal will enable business owners to thrive and remain profitable.
Amid reports that KwaZulu-Natal is lagging behind other provinces in the development of small, medium and micro-enterprises (SMMEs), the tide is set to change as greater numbers of people get onto the entrepreneurial ladder.
If the age-old adage that “Life is a journey, not a destination” is anything to go by, then the people we encounter along the way and the experiences to which we are exposed, will profoundly impact our personal and professional accomplishments. Such is the conviction of Ithala Development Finance Corporation whose overall strategy is underpinned by strategic relationships with business, government and the community-at-large to create a sustainable environment.
The Minister of Trade and Industry, Dr Rob Davies and KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Mr Sihle Zikalala will launch the first phase of the Isithebe Industrial Park revitalisation in Mandeni, KwaZulu-Natal on Tuesday, 4 October 2016.
Amidst the stifling plight of township and rural business women, the tradition of recognising ordinary women on a public platform for their outstanding contribution to the economy and local communities is like a breath of fresh air. The 2016 Imbokodo Iyazenzela Women in SMME Awards hosted by Ithala Development Finance Corporation in Durban on 27 August 2016, paid tribute to three exceptional women who have defied all odds to take centre stage as KwaZulu-Natal’s local heroes.
Success is inevitable when stronger female participation is encouraged across all levels of an organisation and where men and women are given equal opportunity to achieve their full potential.
An organisation that is seriously backing the advancement of women in the corporate and small business sector is Ithala Development Finance Corporation, KwaZulu-Natal’s provincial development agency.
Several local and surrounding communities across KwaZulu-Natal are highly dependent on the existence of purpose-built industrial estates for employment, income and an improved lifestyle. This was revealed by a socio-economic trend assessment of Ithala Development Finance Corporation’s industrial properties and comes in the wake of current economic pressures.