---
title: "Watch – SA Reserve Bank wants to shut down Ithala SOC – Here’s why"
description: "The Prudential Authority of the SA Reserve Bank is seeking to liquidate KZN-based Ithala SOC due to serious concerns about the state-owned lender’s financial health. In this video, Daily Maverick's Pieter-Louis Myburgh unpacks for Scorpio the recent court application and investigates a questionable Ithala loan."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "VIDEO"
author: "Pieter-Louis Myburgh"
author_url: "https://www.dailymaverick.co.za/author/pieter-louismyburgh/"
canonical_url: "https://www.dailymaverick.co.za/article/2025-03-29-watch-sa-reserve-bank-wants-to-shut-down-ithala-soc-heres-why/"
published: "2025-03-29T10:25:36"
updated: "2025-03-30T10:59:16"
lang: "en-ZA"
word_count: 46
---

# Watch – SA Reserve Bank wants to shut down Ithala SOC – Here’s why

> The Prudential Authority of the SA Reserve Bank is seeking to liquidate KZN-based Ithala SOC due to serious concerns about the state-owned lender’s financial health. In this video, Daily Maverick's Pieter-Louis Myburgh unpacks for Scorpio the recent court application and investigates a questionable Ithala loan.

By Pieter-Louis Myburgh · Published 29 March 2025, 12:25 SAST · Updated 30 March 2025, 12:59 SAST

## Key points
- In a tale as tangled as a politician's promises, the Mkhize farm debacle unveils a financial labyrinth that begs the question: what else is lurking in Ithala's loan books?
- Investigative report reveals financial irregularities linked to the Mkhize farm debacle.
- Key players in the Ithala loan books face scrutiny as new evidence emerges.
- The story highlights broader implications for governance and accountability in South Africa.
- Daily Maverick continues to champion journalism that safeguards democracy.

## Content

[YouTube video: "YouTube video"](https://www.youtube.com/watch?v=6GXHL0kbZN8)

Reporting by: Pieter-Louis Myburgh
Filmed by: Bernard Kotze
Produced by: Emilie Gambade
Edited by: Rufaro Chiswo
Animation by: Rufaro Chiswo
Sub-edited by: Ian Wolstenholme

Read [the full story.](https://www.dailymaverick.co.za/article/2025-03-06-the-mkhize-farm-debacle-what-else-lurks-in-ithalas-loan-books/)

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