Modern Conference Room

Our Leadership

Our Board of Directors

Inkosi Sbonelo Mkhize

Deputy Chairman

Independent Non-Executive Director

Appointed: 2018
Qualifications:

  • Bachelor of Commerce (Economics) (University of KwaZulu -Natal),

  • Certificate in Public Policy (2014) University of California Berkeley

Management Committees

  • Board of Directors

  • Directors Affairs Committee

  • IT Governance Committee

  • Insurance Advisory Committee 

External Appointments

  • M Energy (PTY) LtdMC

  • Nalane Developmental Corporation (PTY) Ltd

Ngoni Simelane

Independent Non-Executive Director

Appointed: 2021
Qualifications:

  • Master of Business Administration,

  • Post Graduate Certificate in Business Administration

Management Committees

  • Board of Directors

  • Directors Affairs Committee

  • IT Governance Committee

  • Insurance Advisory Committee

External Appointments

  • General Manager:Digital Platforms and Services at MTN

  • Chief Technology Officer at Early Stage Startup

  • Executive Head of Mobile and Digital Payments Strategy & Innovation at Standard Bank Group

Mr Mpumzi Pupuma

Lead Independent Non-Executive Director

Appointed: 2020
Qualifications:

  • Masters of Business Leadership,

  • Bachelor of Accounting Sciences

Management Committees

  • Board of Directors

  • Risk and Capital Management Committee 

  • Human Resources and Remuneration Committee  

  • Audit and Compliance Committee

  • Directors Affairs Committee  

External Appointments

  • Chairman and Trustee of Grassland Development Trust

  • Committee Member of Nqamakwe and Nomaheya National Wool Growers Association

  • Director: Ntinga OT Tambo Development Agency

  • Director: Khoin PTY LTD

Ms. Given Sibiya

Independent Non-Executive Director

Appointed: 2017

Qualifications:

  • BCom 

  • BAcc (Wits) Chartered Accountant (SA) Management Committee

 

Management Committees

  • Board of Directors

  • Directors Affairs Committee

  • Audit and Compliance Committee

  • Risk and Capital Management Committee

  • Human Resources and Remuneration Committee 

  • Social Ethics and Sustainability Committee 

 

External Appointments

  • Member of Audit Committee, Media Development & Diversity Agency

  • Head of Internal Audit Division, SekelaXabiso Chartered Accountants

  • Non-Executive Director, Basil Read Holdings Ltd

Mr Sandile Shabalala

Independent Non-Executive Director

Appointed: 2021
Qualifications:

  • Masters in Business Leadership,

  • Diploma: Management Practice

  • Bachelor of Administration

  • Associate Diploma in Banking

Management Committees

  • Board of Directors

  • Directors Affairs Committee 

  • Audit and Compliance Committee 

  • Risk and Compliance Management Committee 

  • IT Governance Committee 

  • Human Resources and Remuneration Committee 

External Appointments

  • Isiphosethu Investment Holdings (PTY) Ltd

  • CEO of TymeBank

  •  Managing Executive at Nedbank

Mr. Sandile Mnguni

Independent Non-Executive Director

Appointed: July 2019
Qualifications:

  • Honours in Cost Management Accounting

  • Master’s in Business Administration

Management Committees

  • Board of Directors 

  • Directors Affairs Committee

  • IT Governance Committee

  • Insurance Advisory Committee 

Employment History

  • Director at Bonakude Consulting and Assurance

  • Head of Expenditure finance at Ethekwini Municipality

  • Senior Manager at  Auditor General’s Office

Our Executive Committee

Dr. Thulani Vilakazi

Chief Executive Officier

Appointed: 2020
Qualifications:

  • Doctor of Business Leadership (DBL) -  PhD

  • Post-Graduate Diploma in Company Directorship

  • Henley MBA -  Master of Business Administration

Management Committees

  • Board of Directors

  • Risk and Compliance Management Committee 

  • IT Governance Committee 

  • Insurance Advisory Committee 

  • Human Resources and Remuneration Committee

  • Social Ethics and Sustainability Committee


Employment History

  • Global Advisor - Guidepoint Advisors

  • Head of Strategy, Marketing & Communications - Nedbank Group - Africa Division

  • Deputy Chief Executive Officer and Director  - Rentworks Africa (Pty) Ltd 

  • Deputy Managing Director / Executive Director - Standard Bank Group

  • National Manager: New Enterprise Banking  -  ABSA Bank

Adv. Kabelo Nkhambule

Compliance Officer

Appointed: 2020
Qualifications:

  • LLB Degree

  • Certificate in Marketing

  • Certificate in Cooperative Governance

Management Committees

  • Executive Committee

  • Management Credit Committee

  • Assets and Liabilities Committee

Employment History

  • Chief Risk and Compliance Officer -  South African Express SOC Limited

  • Senior Manager: Group Compliance -  African Bank Holdings Limited

  • Group Legal advisor - African Bank Investments Limited

Mr. Shane Moodley

Head of Retail & Business Banking

Appointed: July 2015
Qualifications:

  • BCom (Hons) (Currently studying)

  • BCom (Financial Management)

Management Committees

  • Executive Committee
    Asset and Liabilities Committee
    Operational Risk Management Committee
    Management Credit Risk Committee
    Anti-Fraud and Ethics Committee

Employment History

  • Regional Head : Cash Management ( Absa Corporate)

  • Regional  Product Manager : Investment Risk (Absa Corporate)

  • Funding and Liquidity Dealer : Nedbank Capital

Mr. Sihle Gwala

Head of Human Resources

Appointed: 2011
Qualifications:

  • B Soc Sc, SMDP

  • BA Honours (Industrial Psych)

 

Management Committees

  • Executive Committee

  • Operational Risk Management Committee

  • Management Credit Committee

  • Anti-Fraud and Ethics Committee

  • Assets and Liabilities Committee

  • Skills Development and Employment Equity Committee

  • Financial Misconduct Committee

 

Employment History

  • Divisional HR manager - Public Investment Corporation Real Estate & Asset Management

  • Senior HR business partner (Head Office) - ABSA Retail Bank

  • HR business partner (Regional Office) - ABSA Bank

Ms. Chrystal Gumede

Chief Risk Officer

Appointed: April 2019

Qualifications:

  • Bachelor of Commerce.

 

Management Committees

  • Executive Committee

  • Operational Risk Management Committee

  • Management Credit Committee

  • Anti-Fraud and Ethics Committee

  • Assets and Liabilities Committee

  • Financial Misconduct Committee

 

Employment History

  • Operational Risk Officer, Absa Bank

  • Risk Consultant,  Teba Bank

  • Head: Risk & Compliance, First National Bank

  • Head of Operational Risk, First National Bank

  • Chief Risk Officer, Basil Read

Mr. Xolani Khumalo

Head of Credit & Collections

Appointed: 2020
Qualifications:

  • CA (SA)

 

Management Committees

  • Executive Committee

  • Management Credit Committee

  • Credit Impairments Committee

  • Enterprise Risk Committee

Employment History

  • Group Financial Planning & Analysis (and Group Head: Benefits Tracking) - Barloworld Ltd

  • Investment Officer - Development Bank of SA

  • Senior Credit Manager/ Analyst (Investment Banking) - Rand Merchant Bank

Ms. Thabisile Luthuli 

Company Secretary

Appointed: 2014
Qualifications:

  • CIS Professional (Post-Graduate)

Management Committees

  • Executive Committee

  • Asset and Liability Committee

  • Operational Risk Management Committee

  • Anti-Fraud and Ethics Committee

  • Financial Misconduct Committee

Employment History

  • Company secretary - Grindrod Bank Limited

  • Assistant Company Secretary - Apollo Tyres SA (previously known as Dunlop

  • Assistant Company Secretary: Adapt IT Holdings Limited

Mr. Sethu Nsele

Chief Auditor Executive

Appointed: 2020
Qualifications:

  • Masters of Business Leadership

  • Certified Internal Auditor

  • Certified Financial Services Auditor

 

Management Committees (Invitee)

  • Executive Committee

  • Operational Risk Management committee

  • Management Credit Committee

  • Anti-Fraud and Ethics Committee

  • Assets and Liabilities Committee

  • Skills Development and Employment Equity Committee

  • Financial Misconduct Committee

Employment History

  • Director – Audit, Risk and Governance - FTMG Corporate Advisory Services

  • Independent Consultant -  Self Employed (Sethu Nsele Advisory Services (SNAS)

  • Manager, Credit Risk Operations  - Rand Merchant Bank Ltd

  • Credit Governance Specialist -  ABSA Capital

Mr. Aaron Pather 

Head of Insurance 

Appointed: July 2019

Qualifications:

  • Master’s in Business Administration (MBA)

 

Management Committees

  • Executive Committee

  • Operational Risk Management Committee

  • Management Credit Committee

  • Anti-Fraud and Ethics Committee

  • Assets and Liabilities Committee

  • Skills Development and Employment Equity Committee

 

Employment History

  • Sanlam, Business manager

  • Nedbank Insurance Distribution, Head of Business development

  • Momentum, regional manager

  • Old Mutual,  Executive sales Manager.

  • Liberty life, Relationship Manager.

Mr. Sandile Xolo

Head of Marketing & Communications

Appointed: 2011
Qualifications:

  • BBA (Marketing), Graduate Diploma (Marketing)

  • PASA Certificate (Payments)

 

Management Committees

  • Executive Committee

  • Operational Risk Management Committee

  • Anti-Fraud and Ethics Committee

  • Management Credit Committee

Employment History

  • Marketing and sales manager - Ithala SOC Limited

  • Brand manager - Tsogo Sun: Suncoast Casino

  • Casino brand manager - Tsogo Sun Gaming: Suncoast Casino

  • Regional assistant brand manager - Africa, Middle East and Turkey: Unilever​

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Contact Information

Head Office: +27 (0) 31 366 2500  
Call Centre: +27 (0) 80 133 1130
Email: customerservice@ithala.co.za

Lost Cards: +27 (0) 80 133 1130

Ithala SOC Limited is an Authorised Financial Services and Credit Provider FSP License No. 17139 NCRCP No. 1559 Reg No. 2001/007427/30.

Ithala SOC Limited is a wholly-owned subsidiary of Ithala Development Finance Corporation Limited