Kaya 959 Kaya Biz

Treasury unlocks R2.2bn to repay Ithala depositors

Loading player...
GUEST - Khaya Sithole, Independent Analyst

For nearly a year, over 275,000 South Africans, many of them in KwaZulu-Natal have been locked out of their savings after Ithala SOC hit financial trouble and faced court-ordered provisional liquidation. Now, relief is finally on the way.

The National Treasury has confirmed that it will release up to R2.2-billion to repay Ithala depositors, with payouts beginning from 8 December through First National Bank appointed as the secure payout partner. Depositors won’t be forced to bank with FNB but will undergo a verification process to ensure funds are returned safely and correctly.
3 Dec 2025 2PM English South Africa Business News · Investing

Other recent episodes

CAREERS CORNER: Rebuilding job prospects after long-term unemployment

Long-term unemployment remains one of South Africa’s most serious labour market challenges, with millions of people out of work for a year or longer. Extended time away from employment can make it harder for job seekers to re-enter the workforce, but experts say there are ways to rebuild confidence and…
16 Mar 4PM 19 min

When can pension benefits be withheld?

Employers sometimes pursue civil or criminal action against employees accused of fraud or dishonesty, but can pension benefits be withheld while those cases are still pending? The law allows pension funds to withhold benefits in certain circumstances, provided trustees exercise their discretion carefully and fairly. Thato Makoaba, associate at Cliffe…
16 Mar 4PM 12 min

Skills needed to tackle South Africa’s water crisis

South Africa’s growing water crisis is not only about ageing infrastructure but also about the shortage of skilled professionals to manage and maintain critical systems. Training, technical expertise and workforce development are increasingly seen as key to strengthening water security. Dr Mmaphefo Thwala, Water Sector Manager at EWSETA, joins KayaBiz…
16 Mar 4PM 17 min

COSATU calls for urgent fixes to UIF and social grants

South Africa’s labour federation COSATU is warning that urgent action is needed to support struggling workers and businesses. The organisation is calling for improvements to the UIF Temporary Employment Relief Scheme, expansion of the Presidential Employment Stimulus, and adjustments to social grants to keep pace with inflation. COSATU parliamentary co-ordinator…
16 Mar 4PM 14 min

MTN returns to profit after difficult year

Africa’s largest telecoms operator, MTN Group, has staged a remarkable turnaround, reporting a profit of R27.4 billion for 2025 after a loss the previous year driven largely by currency volatility in Nigeria. The group has also surpassed 300 million customers and continues to invest heavily in network expansion and digital…
16 Mar 4PM 13 min
All episodes