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Watch – SA Reserve Bank wants to shut down Ithala SOC – Here’s why

The Prudential Authority of the SA Reserve Bank is seeking to liquidate KZN-based Ithala SOC due to serious concerns about the state-owned lender’s financial health. In this video, Daily Maverick's Pieter-Louis Myburgh unpacks for Scorpio the recent court application and investigates a questionable Ithala loan.
Watch – SA Reserve Bank wants to shut down Ithala SOC – Here’s why
Pieter-Louis Myburgh
By Pieter-Louis Myburgh
29 Mar 2025
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https://www.youtube.com/watch?v=6GXHL0kbZN8

Reporting by: Pieter-Louis Myburgh
Filmed by: Bernard Kotze
Produced by: Emilie Gambade
Edited by: Rufaro Chiswo
Animation by: Rufaro Chiswo
Sub-edited by: Ian Wolstenholme

Read the full story.

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Comments (2)

Gavin Brown Mar 31, 2025, 01:30 PM

Where is SARS in all this ?

D'Esprit Dan Mar 31, 2025, 07:10 AM

Wow! Looks like another ANC slush fund for the connected. If the ANC (and their extension in the EFF and MK) are so keen to keep Ithala afloat, they must demand the immediate repayment of all outstanding loans immediately. Those who can't forfeit their assets. Of course we know this won't happen to 'Digital Vibes' Mkhize and his family. Another rotten saga, proudly brought to you by Cyril Ramaphosa's ANC.

gfogell Mar 31, 2025, 11:30 AM

Sigh.... Why are we not surprised? To borrow from Shakespeare, "There's something rotten in the state of...". And there's never any consequence management. This beautiful country would do so much better with clean and effective governance.