All five members of the Ithala Board resigned at the company’s recent Annual General Meeting (AGM).
Thamsanqa Ntuli, Premier of KwaZulu-Natal, did not provide reasons for this, but said in a statement this week, “government has a clear appreciation of the governance, compliance, and operational challenges that have confronted the institution over time, and is now firmly focused on implementing practical and sustainable solutions that will restore stability and rebuild public confidence.”
In addition, he said “as government, our objective is clear: To move Ithala from a state of recurring crises towards becoming an agile, responsive, and sustainable developmental institution capable of advancing financial inclusion, supporting small enterprises, and contributing meaningfully to inclusive economic growth across the province.”
He also promised to improve communication with stakeholders.
The Portfolio Committee on Economic Development and Tourism in the KwaZulu-Natal Legislature also said they note the recent developments concerning the resignation of the Board.
Picture: Supplied