ITHALA MOVING FORWARD
By: Dale Munatswa
Ithala group expressed determination to reclaim their leading position as the top financial group in South Africa at the handover of its clean audit by the Auditor General at Elangeni Hotel on Monday.
Yvonne Zwane, Ithala Group Chief Executive explained the reception of the clean Audit as a reflection of a remarkable work and the first step for the group towards its expansion and growth.
She said, “Achieving a clean audit indicates our drive to promote good corporate governance coupled with the implementation of responsible policies. It is now the implementation of these initiatives that will contribute to Ithala’s development.”
According to Losh Penuma, Audit Manager from the Auditor General’s office, a Clean Audit is the satisfactory result of a series of assessments carried out by the Auditor Gneral to verify if the information deserminated to the public by a company in its annual financial statement is legitimate and does not show any irregularities.
Penuma said, “Ithala’s Audit was a clean one- it did not have any fouls, no irregular expenditures and no missing data.”
As part of Ithalas development plan, Zwane confirmed that the company will include programs which empower young people, especially graduates from tertiary schools. She said that Ithala will provide financial and non financial support to aspiring entrepreneurs.
Fain Ferguson, the chief finance officer of Ithala, said that the company also offers bursaries and integrated learning opotunities to students in the finance industry and other disciplines.
“Next year we are offering ten bursaries to deserving pupils from disadvantaged backgrounds who have excelled. We have about 60 leaners at the moment,” said Ferguson.
“At Ithala we have many departments- we have HR, Audit, IT, all the departments. So when you come out of University or Technikon it is the right place to be because I always say that with a bank you will always find something that talks to you because we offer opportunity across the board,” Zwane added.
Driven by determination, and armed with a clean audit to show its legitimacy, the Ithala group is positioned to take full advantage of South Africa’s unique economic context.