ANC in KZN vows to fight Ithala liquidation
The ANC in KwaZulu-Natal says
it will not sit in silence and allow Ithala Bank to be liquidated.
It has opposed to the Prudential Authority's application for Ithala's provisional liquidation after it was reported to be insolvent.
The matter will be heard at the Pietermaritzburg High Court on Friday, with the ANC and its alliance partners saying they will picket outside the court.
The party said Ithala remains the hope of around 257,000 depositors in KZN, most of whom are rural women.
READ: ANC must be given room to decide KZN PEC's fate - SACP
Speaking at a media briefing in Durban on Wednesday, ANC provincial secretary Bheki Mtolo said the repayment administrator is committing gross human rights violations.
"As an alliance through our various structures across the province have received many complains from senior citizens who can't buy food for themselves and their grandchildren after a directive all Ithala services providers to hold operations," said Mtolo.
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