ITHALA DEVELOPMENT FINANCE CORPORATION LIMITED
Ntingwe Tea Estate, a joint Ithala/Department of Agriculture project situated
in the Nkandla region of KwaZulu-Natal, provides valuable job opportunities
in this remote area and produces a quality product which is sold locally and
exported to overseas
Ithala Development Finance Corporation Limited (Ithala) is mandated to promote, support and facilitate social and economic development in the Province of KwaZulu-Natal, in accordance with the Province's growth and development strategy and in an appropriate and sustainable manner.
The Ithala Group engages in a wide range of key activities:
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Funding business enterprises, including agricultural ventures and co-operatives;
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Entrepreneurial support and skills development aimed at creating meaningful Broad-Based Black Economic Empowerment;
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Commercial and industrial property development and management;
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Banking, home loan and insurances services; and
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Funding for infrastructural projects.
ITHALA BUSINESS FINANCE
Ithala Business Finance actively promotes a culture of entrepreneurship and offers a range of products and services to assist businesses. Ithala's business finance solutions are designed to meet the needs of established enterprises and emerging entrepreneurs through the provision of short, medium and long term lending products. Ithala focuses on agriculture, agriprocessing, services, trade, manufacturing, construction and tourism.
Ithala's Business Finance products include:
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Bridging finance;
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Working capital;
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Finance for land and buildings;
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Plant and equipment; and
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Empowerment equity.
In addition, Ithala's business centres, located within the municipal districts of KwaZulu-Natal, have broadened participation and brought much needed access to information for communities in both rural and urban areas.
ITHALA LIMITED
Ithala Limited, a wholly-owned subsidiary of the Corporation provides a range of retail banking services, home loan products and insurance services throughout the Province via a network of 52 branches. Ithala Limited was the pioneer into the unbanked sector of the Province. Despite commercial banking having moved into this market, Ithala Limited remains committed to fostering a culture of savings amongst communities and will continue to expand its product offering, propelling it toward becoming a world class banking services institution.
Home ownership remains a key component to improving the lives of communities and home owners from rural, township and metropolitan areas inKwaZulu-Natal have benefitted from Ithala's home loan products. Ithala Insurance Services seeks to be the preferred provider of insurance products and services within the communities it serves, providing life assurance, commercial and personal insurance for individuals and businesses.
ITHALA PROPERTIES
Ithala Properties undertakes the development and management of Industrial and Commercial related projects. These projects comprise the development of new industrial and commercial space as well as the redevelopment and expansion of existing space. These activities are geared towards stimulating economic growth. The portfolio of properties is made up of 1 million square metres of industrial property and 177 000 square metres of commercial shopping facilities, across 22 shopping centres spread throughout the Province.
Ithala is the pioneer into many rural areas, bringing services, shopping and banking facilities closer to local communities. The establishment of Ithala commercial centres in remote regions ofthe Province has served as a stimulus for development. Small business has mushroomed around the centres and in some areas, additional shopping malls and facilities have been built.
