Ithala joins hands with eThekwini Municipality and Muslim Chamber at empowerment workshop
Ithala Development Finance Corporation Limited recently partnered with the eThekwini Municipality and the Minara Chamber of Commerce (MCC), a Muslim commerce organisation to host a workshop aimed at facilitating access to finance opportunities for entrepreneurs.
The workshop empowered SMMEs and entrepreneurs on Ithala’s product offering and also provided a networking platform for established business professionals and emerging entrepreneurs.
Bongi Sishi from Ithala said the organisation recognised the need to forge relations with other public and private institutions.
“Ithala, as a development finance institution sees value in working with the likes of the eThekwini Municipality and the MCC in order to fulfil its mandate of promoting economic development in the province.â€
Sishi said Ithala focused mainly on stimulating entrepreneurship through providing development finance, especially among previously-disadvantaged individuals.
“Our focus is on assisting business in the province particularly in sectors such as trade, construction, agriculture and manufacturing.â€
Some of the topics covered at the workshop included accessing business finance, how to structure proper business plans and Broad Based Black Economic Empowerment practices.
“In addition to providing finance, we also assist our clients by giving them the necessary guidance and support to see them through some of the challenges that they may encounter in their businesses,†said Sishi.
Siyabonga Luthuli from the eThekwini Municipality’s Business Support Unit said the objectives of the Unit were to provide integrated business support services to existing and potential businesses within the eThekwini Municipality Area.
Luthuli said although they did not provide loans, they were able to link entrepreneurs with developmental funding institutions such as Ithala.
Solly Suleman from the Minara Chamber of Commerce encouraged entrepreneurs to exploit the networking opportunities offered by the Chamber.
He said the Chamber had achieved recognition from government and enjoyed a healthy relationship with other chambers.
“Membership is open to business owners, professionals, entrepreneurs and organisations from all backgrounds,†he said.
The workshop also heard testimony from an Ithala client, Nombuso Ndumo, who owns a company called Khukhula Cleaning.
Ndumo told the audience that Ithala had assisted her with start-up funding.
“Today I provide cleaning services throughout KwaZulu-Natal,†she said.
“Today I provide cleaning services throughout KwaZulu-Natal,†she said.
Ndumo was recently named among the winners of the 2011 Ithala Business Achiever Awards.
Ithala Business Finance can be contacted on 031-907 8932
