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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.