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


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/Management

Mr Roshan Morar
Board Members:
Mr Chris Gina
Ms Khulekelwe Mbonambi
Mr Sibonelo Mkhize
Mr Sihle Ndlovu
Mr Njabulio Bheka Nzuza
Ms Precious Nompumelelo Sibiya
Mr Themba Mathe (Acting Group CE, and Group Marketing, Communications and HR Executive)
Farhana Amod (Group CFO)
Senior Management:
Mr Michael Matibe (Group Chief Information Officer)
Ms Boitumelo Mokgatle (Chief Risk Officer)
Mr Nkosinathi Nhlangulela (Properties Executive)
Mr Bonginkosi Shangase (Business Finance Executive)
Communications Officers:
Crecia Allers
Sibusiso Goba

Financial Information

All Financial Values: R'0002016/172015/162014/152013/14
AUDIT OUTCOMEAudit not FinalisedClean AuditFinancially UnqualifiedClean Audit
Current Assetsn/a1 868 5031 555 3741 547 029
Non-Current Assetsn/a4 445 5564 384 0762 987 506
Total Assetsn/a6 314 0595 939 4504 534 535
Current Liabilitiesn/a189 433222 628187 340
Non-Current Liabilitiesn/a2 536 2232 353 5542 325 620
Total Liabilitiesn/a2 725 6562 576 1822 512 960
Total Net Assetsn/a3 588 4033 363 2682 021 575
Total Revenuen/a1 235 1851 447 6941 116 554
Revenue from Exchange Transactionsn/an/an/an/a
Revenue from Non-Exchange Transactionsn/an/an/an/a
Total Expendituren/a(1 010 050)(1 038 510)(983 104)
Employee Related costsn/a(340 541)(359 053)(349 557)
Surplus/(Deficit) for Yearn/a225 135409 184133 450
Net Cash Flows from Operating Activitiesn/a25 78985 999271 574
Net Cash Flows from Investing Activitiesn/a1 263(272 996)(553 460)
Cash & Cash Equivalents at End of Yearn/a1 362 3691 037 328956 103
Unauthorised Expendituren/a---
Irregular Expendituren/a2 54311 2065 397
Fruitless & Wasteful Expendituren/a---
Posts Approvedn/an/an/an/a
Posts Filledn/an/an/an/a
Sources n/a Annual ReportAnnual ReportAnnual Report


Annual Reports

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