Company Overview

ithala-development-finance-corporation

Boasting a proud 54 year history of development, Ithala Development Finance Corporation Limited (Ithala) has banked marginalised communities long before mainstream banks ventured into the rural areas of KwaZulu-Natal.  As champions of rural shopping mall and industrial estate development Ithala established retail and industrial centres in remote regions to bring facilities closer to communities, stimulating regional economic growth and promoting job creation.  Ithala’s commitment to nurturing the entrepreneurial spirit of SMME’s and promoting enterprise development was well known long before other institutions even coined the phrase.

Ithala has been deeply entrenched in social upliftment long before the value-add of Corporate Social Investment (CSI) was recognised.  The organisation runs run initiatives aimed at enterprise development and mentorship, offers internship programmes providing experiential training to students and a bursary scheme for achievers from disadvantaged backgrounds to undertake tertiary studies.

Ithala Business Finance products and services are available to small and medium industrial and commercial businesses as well as agricultural enterprises, tourism ventures, co-operatives and building contractors.  Over the past 5 years 16 413 jobs have been created through lending activities, 1 053 new businesses have been established and total loans of R2,03 billion has been advanced.

Ithala Properties portfolio of industrial and commercial property assets provide essential infrastructure for manufacturing, retail and other business activities throughout KwaZulu-Natal. Ithala owns and manages more than 1.2 million square metres of industrial, retail and commercial property, making it a prominent property portfolio holder in the province. 

As the pioneer into the unbanked sector, Ithala SOC Limited (Ithala) has, through its transactional and deposit taking activities, allowed people in both urban and rural areas to accumulate personal wealth and have access to banking facilities, home loans and insurance services.

Ithala’s brand essence speaks to enabling dreams and the organisation remains well-placed to provide financial and supportive services to communities in KwaZulu-Natal.