Ifp Hopes Kzn Government Will Move To Save Ithala Bank

The Inkatha Freedom Party IFP says it hopes that the KwaZulu-Natal government will move to save the Ithala Bank .

The provincial Economic Development Portfolio Committee has also pledged to back the bank in its effort to fight against liquidation.

The IFP has vowed not to allow the liquidation of the bank like VBS Mutual Bank.

The partys Treasurer-General Narend Singh says the Ithala Bank is still relevant.

We know that the banks that we have, even now we still have difficulties of them granting loans to people that may not have enough security, particularly people in the rural areas and emerging entrepreneurs, but the KwaZulu Finance Corporation acted as a vehicle to provide financial support and many business houses that we have today, started with finance from the KFC.