Godongwana calls for Ithala ‘to play ball’
Minister says battling lender thwarts proposals for it to partner with established bank or go mutual bank route
22 March 2024 - 05:00
Finance minister Enoch Godongwana has urged embattled KwaZulu-Natal-based, state-owned Ithala to lower its ambitions and consider partnering with an established lender or apply for a less strenuous mutual bank licence while it regularises its affairs to qualify to become a commercial bank.
This comes as Ithala engages with the Prudential Authority (PA) in a high-stakes game over its lapsed exemption and the appointment of a repayments administrator...
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