King Misuzulu Convenes Imbizo Over Ingonyama Trust, Ithala Bank

AmaZulu King Misuzulu kaZwelithini is convening an imbizo today in Nongoma, northern KwaZulu-Natal, to address issues related to the Ingonyama Trust and Ithala Bank.

KwaZulu-Natal MEC for Co-operative Governance, Thulasizwe Buthelezi, says that an imbizo is the most significant gathering the Zulu monarch can convene, reserved for matters that pose a threat to the Zulu Kingdom.

The meeting follows tensions between the Ingonyama Trust Board and the King after he suspended board members, accusing them of financial mismanagement.

Discussions will also focus on the challenges facing Ithala Bank .

A Prudential Authority report recently declared the institution technically and legally insolvent, placing over 200 000 depositors at risk of losing their funds.