MOU to Support Township and Rural Automotive Industry, 09 November 2020

The KwaZulu Natal Department of Economic Development, Tourism and Environmental Affairs on Monday, 09 November 2020, presided over the signing of a Memorandum of Understanding between Ithala Development Corporation Limited (IDFC), South African Technicians Association (SATA) and Ithala SOC Limited (SOC).

 

The agreement will see these parties cooperate with one another as strategic business partners in delivering on the shared commonalities within their respective mandates. SATA is a non-profit organisation whose objective is to advocate for the impartial and equitable allocation of opportunities to historically disadvantaged service providers especially in the servicing of the Public Sector fleet. Part of SATA’s mandate is to significantly increase the availability of historically disadvantaged individuals’ owned outlets that can provide quality service to the entire automotive repairs sector value chain. Ithala IDFC Limited and Ithala SOC Limited shall offer products and services to SATA members including but not limited to asset based finance, working capital, bridging finance and relevant credit facilities. Further, the institution will provide access properties owned by Ithala where service providers in the automotive repairs sector could locate their businesses. There is a suite of facilities that the organisations have committed to, which will be unpacked at the signing ceremony.

 


Ms Pearl Bhengu and Dr Thulani Vilakazi fromIthala Development Corporation Limited (IDFC) & Ithala SOC Limited and Mr Skhumbuzo Mkhanya from South African Technicians Association (SATA) during the signing of MOU.

 


Members of the Mkhanya South African Technicians Association (SATA) during the signing of MOU.

 


Ms Pearl Bhengu and Dr Thulani Vilakazi fromIthala Development Corporation Limited (IDFC) & Ithala SOC Limited and Mr Skhumbuzo Mkhanya from South African Technicians Association (SATA) during the signing of MOU.

 


Ms Pearl Bhengu and Dr Thulani Vilakazi fromIthala Development Corporation Limited (IDFC) & Ithala SOC Limited and Mr Skhumbuzo Mkhanya from South African Technicians Association (SATA) signing the MOU.