Company Announcement - “Collaboration with further educational institutions will be fundamental to making a positive impact in transforming the provincial skills development agenda,” says Themba Mathe, Ithala Development Finance Corporation Communications and Marketing Executive. Speaking at the signing of a Memorandum of Understanding with the Coastal Technical and Vocational Education and Training College on KwaZulu-Natal’s South Coast, he reiterated the importance of forging strategic alliances with like-minded stakeholders such as TVET colleges, among others, to play a more meaningful role in providing opportunities for learners and graduates to benefit from learning and skills development programmes.

Ithala has already signed a MOU with Majuba TVET College in Newcastle and is in the process of signing with Esayidi TVET College in the Southern KZN region and then Umthashana TVET College in Northern KZN. Ithala has for many years been involved in youth development programmes for learners from previously disadvantaged communities in KZN. This is achieved by providing much-needed work experience where internships and in-service training are offered to students, giving them a chance to experience the working world in their chosen field of study. In addition, Ithala established a bursary scheme through its corporate social investment unit some years ago to assist previously disadvantaged learners based in KZN to acquire tertiary qualifications in specified fields of study at certain recognised tertiary educational institutions in South Africa.

The scheme has grown since inception and expanded Ithala’s Human Resources portfolio to include financial assistance to students undertaking undergraduate degrees in the fields of Actuarial Science, Accounting and Economics, Human Resources, Electrical and Civil Engineering, Property Management, Legal and Auditing, Banking, Information Technology, Architecture and Drafting. “Many worthy prospective graduates in our province thrive in their studies despite huge challenges and, in many instances, it is only financial constraints and experiential training opportunities that preclude them from fulfilling their potential and reaching for the stars.

“As an enabler of hope, the motivation for Ithala to provide bursary and learnership support is made in the context of empowering our youth to become meaningful contributors to our economy,” said Mathe. Ithala subscribes to the White Paper presented by the Department of Higher Education and Training, which recognises the importance of partnerships between educational institutions and employers.