Ithala Development Finance Corporation Limited

Contact details

Physical: Ithala Trade Centre, 29 Canal Quay Road
Postal: PO Box 2801, Durban, 4000
Tel: 031 907 8911
Fax: 031 907 5685
Web: www.ithala.co.za

Overview

The mission of the Ithala Development Finance Corporation Limited is to drive economic development and empowerment, whilst remaining financially sustainable. The nature of their business includes: business finance, industrial and commercial property development and management, retail banking services, home loan products, and insurance services.

The Corporation's strategic objectives are to mobilise financial resources and provide financial and supportive services; plan, execute, finance and monitor the implementation of development projects and programmes; promote, assist and encourage the development of human resources and social, economic, financial and physical infrastructure; promote, encourage and facilitate private sector investment and the participation of private sector and community organisations in development projects and programmes, and in contributing to economic growth and development; and act as the government's agent for performing any development-related tasks and responsibilities that the government considers may be more efficiently or effectively performed by a corporate entity.

Office Bearers

Chairperson:
Dr MSV Gantsho
Board Members:
Ms NN Afolayan
Ms BC Bam
Mr WJ Jacobs
Ms NNA Matyumza
Mr D McLean
CEO:
Ms Yvonne Zwane (GCEO)
CFO:
Farhana Amod (Group CFO)
Senior Management:
Mr Peter Ireland (CEO: Ithala SOC Limited)
Mr Themba Mathe (Group Marketing and Communications Executive)
Mr Michael Matibe (Group Chief Information Officer)
Ms Boitumelo Mokgatle (Chief Risk Officer)
Mr Mano Muthusamy (Acting Business Finance Executive)
Mr Nkosinathi Nhlangulela (Acting Properties Executive)
Communications Officers:
Crecia Allers
Sibusiso Goba

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
 
AUDIT OUTCOMEFinancially UnqualifiedClean AuditFinancially Unqualified
 
FINANCIAL POSITION
Current Assets1 868 5031 555 3741 547 0292 438 456
Non-Current Assets4 445 5564 384 0762 987 5062 380 635
Total Assets6 314 0595 939 4504 534 5354 819 091
Current Liabilities189 433222 628187 340159 317
Non-Current Liabilities2 536 2232 353 5542 325 6202 771 649
Total Liabilities2 725 6562 576 1822 512 9602 930 966
Total Net Assets3 588 4033 363 2682 021 5751 888 125
 
FINANCIAL PERFORMANCE
Total Revenue1 235 1851 447 6941 116 554951 842
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expenditure(1 010 050)(1 038 510)(983 104)(871 371)
Employee Related costs(340 541)(359 053)(349 557)(337 436)
Surplus/(Deficit) for Year225 135409 184133 45080 413
 
CASH FLOW
Net Cash Flows from Operating Activities25 78985 999271 574224 565
Net Cash Flows from Investing Activities1 263(272 996)(553 460)(251 805)
Cash & Cash Equivalents at End of Year1 362 3691 037 328956 1031 684 126
 
UIFW EXPENDITURE
Unauthorised Expenditure----
Irregular Expenditure2 54311 2065 3971 116
Fruitless & Wasteful Expenditure---765
 
HUMAN RESOURCES
Posts Approvedn/an/an/an/a
Posts Filledn/an/an/an/a
 
SourcesAnnual ReportAnnual ReportAnnual ReportAnnual Report

Subsidiaries

Annual Reports


The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at info@provincialgovernment.co.za so that we can correct them.
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