DURBAN - The Prudential Authority of the Reserve Bank has applied to provisionally liquidate Ithala Bank.
READ: KZN government commits to lifting Ithala Bank out of financial turmoil
Ithala Bank is unique in that it is owned by the Province of KZN and it operates in rural areas rather than big cities.
It has about a quarter of a million depositors but there is a move for government to pay them their dues.
CA and Independent Analyst, Khaya Sithole discussed this with eNCA.