DURBAN - The entire board of Ithala SOC Limited has resigned in a major development for the crisis-hit institution.
KwaZulu-Natal Premier Thamsanqa Ntuli has welcomed the move.
He says it forms part of broader efforts to stabilise and reposition Ithala.
The institution, which was established to support underserved communities, has faced years of governance failures, corruption allegations, and regulatory non-compliance, placing it at risk of possible liquidation.
ALSO READ | FNB pays out R1bn to Ithala customers in under a month
Ntuli said the government is now focused on restoring stability and strengthening oversight.
The move is aimed at rebuilding public trust, while further reforms are expected to be announced.