Ithalaâs interventions to revive local economy with R160m funding programme
By Staff Reporter
GCWALISILE KHANYILE
DURBAN - ITHALA Bank has initiated a R160 million funding programme aimed at reviving the local economy amid the devastating effects of Covid-19.
Ithala chief executive Pearl Bhengu said they were embarking on a province-wide roadshow to promote their Masakhe-Letâs Build Entrepreneurship Programme.
âCovid-19 has posed many challenges to business and society at large, thus necessitating strong socio-economic interventions from the private and public sector to reignite the economy,â Bhengu said.
She said the programme comprised the Masakhe Women Entrepreneurship Fund of R50 million, Youth Entrepreneurship Fund of R50m, Procurement Fund of R50m and Rural and Township Economy fund of R10m.
I don’t like smoking whoonga anymore but being unemployed isn’t helping either
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DUT
Ntokozo Mabaso is currently doing his Master s in Analytical Chemistry at the Durban University of Technology.
He started manufacturing sanitiser from his garage when he saw the shortage caused by the pandemic.
Mabaso approached the university after its Department of Biotechnology stopped manufacturing the sanitisers.
A curiosity about how to make sanitisers, which was brought on by a shortage at the height of the pandemic, led Durban University of Technology master’s student Ntokozo Mabaso to manufacturing and supplying the university with sanitisers.
The university had initially been sourcing its sanitisers from its Department of Biotechnology, and when they stopped producing them, Mabaso approached his research supervisor with his formula to produce them.