In light of the ever-worsening economic conditions, several robust programmes initiated by Ithala Development Finance Corporation continue to pay dividends, especially in the historically marginalised communities that have been worst hit by the national unemployment crisis.
As a development finance institution, Ithala’s brand speaks to enabling dreams, and the organisation is committed to providing financial and supportive services to communities in KwaZulu-Natal.
Ithala delivered hope by advancing R277-million towards the financing of businesses enterprises that have created 886 permanent jobs. An additional 845 permanent jobs were created through property development and maintenance, and 836 people were provided with direct employment. Ithala also funded 114 entrepreneurs and provided capital for 25 hectares of agricultural land.
As the champions of rural shopping mall and industrial estate development, Ithala has established retail and industrial centres in remote regions to bring facilities closer to communities, stimulating regional economic growth and promoting job creation.
Ithala plays a catalytic role in nurturing the entrepreneurial spirit of SMMEs and co-operatives and promoting enterprise development, through continued expansion of the portfolio of financial products and empowerment programmes designed to serve emerging markets in outlying areas.
These initiatives, namely Siyasebenza (“we are working”), Imbokodo Iyazenzela (“women doing it for themselves”) and the Inkunz’isematholeni Youth in Business iniative, are a series of developmental outreach programmes by Ithala aimed at uplifting and empowering the youth, women and SMMEs in townships and rural areas, providing them with the finance and resources to grow into successful entrepreneurs.
In addition, Ithala has also provided practical assistance by hosting a series of informative workshops across the KwaZulu-Natal province. The workshops provide valuable insights into the challenges that entrepreneurs face when starting businesses, including a lack of critical information; operating unregistered businesses; no access to finance; not knowing how to formulate a business plan; limited business management skills and access to markets; and by ensuring quality standards and obtaining mentorship.
Ithala continues to do its part in uplifting and enabling KZN communities, by investing in those who dare to dream and by providing assistance in achieving these ambitions.
For more information on Ithala visit www.ithala.co.za or call 031 907 8911