Ithala’s rural commitment aims to alleviate poverty and the unemployment rate

Ithala SOC Limited has committed to be part of the Nquthu Local Municipality’s annual event, the Nquthu June. The Nqutu June Horse Racing event started in 2021 to fight poverty and reduce the high unemployment rate level in the region, is set to talk about the town.

The music extravaganza and horse racing activities heralded during the Nquthu June since its inception. Ithala, which is a major sponsor of the event, aims to continue to improve its support and become a banking partner.

The event which focuses on youth development and the upliftment of rural communities, will be bringing economic benefits for local businesses. It is also an event that showcases maidens of Zulu and SeSotho cultures and continues to be the shining light for local people in the area.

This year’s event promised to be bigger and better as the financial institution aims to boost KZN tourism through its sponsorship packages.  According to Ithala SOC Limited Chief Executive Officer, Dr Thulani Vilakazi, “all stakeholders involved in this event should join hands and commit to make this a success. It is worth noting that Nquthu Town is the home of Isandlwana, the historic Anglo-Zulu War battle that took place on 22 January 1879 and a tourist destination worldwide.”

“Nquthu June has become one of the major events in our province since 2021. This year, our organization will provide sponsorship worth R25 000 as well as become a banking partner. Our aim as a financial institution is to invest in youth from rural areas and help reduce the unemployment rate in rural communities,” Dr Vilakazi said. 

A licensed financial services provider and registered credit provider, Ithala SOC Limited continues to champion the needs of ordinary South Africans, especially those in rural areas. Formed in the early 2000s, Ithala has demonstrated its commitment to driving the social transformation agenda in the province by banking the unbanked. 

Nquthu June aligns perfectly with Ithala’s transformation agenda and the financial institution hopes to contribute massively in making the event a success. A pioneer in banking the unbanked in KZN, Ithala SOC Limited is the first financial services institution to provide banking services to townships and rural areas of KZN and provides a range of key savings and investments products, insurance services and personal and home loan products to communities throughout the province.

A distribution network of 36 Ithala branches in KZN provides convenient transacting facilities.

For more information, visit www.myithala.co.za, call 031 366 2500 or follow #MoveToIthala #RedefiningWealth #StateBank #MyIthala