ActionSA Demands Transparency on Ithala Bank Loans

ActionSA is demanding transparency from KwaZulu-Natal’s Ithala bank over outstanding loans granted to politically exposed individuals. The party is concerned that taxpayer funds may have been misused to benefit politicians and their associates, including the chairperson of Parliament’s portfolio committee on Cooperative Governance and Traditional Affairs, Zweli Mkhize, and his family. ActionSA’s Alan Beesley says reports indicate that Ithala is commercially and technically insolvent, with 2.2-billion-rand in loans, but only 100-million-rand impaired: