By Levy Masiteng
On Monday KZN Economic Development MEC, Musa Zondi has come out to reassure the public that Ithala Bank will function yet again and the government is attending to the issue as a priority to get the bank’s licence reinstated.
“The 7th administration inherited the issues at Ithala… However, it is our responsibility to address this problem with urgency as there is no desire or intention for Ithala to close down” said Zondi in a statement.
Zondi said that the matter is being handled and that small businesses, as well as other Ithala Bank clients, can feel at ease.
“This crisis is being addressed with urgency… Despite the challenges that have arisen, we are fully committed to restoring Ithala’s dignity” he said.
The statement came after widespread concerns raised by small businesses and more specifically by amaZulu King, Misusulu kaZwelithini who described Ithala as the “backbone of rural and township entrepreneurs in KZN”.
KwaZulu-Natal’s Cooperative Governance and Traditional
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