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The IFP has questioned the sudden departure of Manana Nhlanhla, chairperson
of the Ithala Group, announced earlier today jointly by Nhlanhla herself and
KwaZulu-Natal MEC for Economic Development and Tourism Mike Mabuyakhulu.

"Nhlanhla's sudden departure amid mounting crisis at Ithala is as suspicious
as her reasons for this move are unconvincing," said IFP KwaZulu-Natal
finance and public accounts spokesperson Dr Lionel Mtshali.

In her joint statement with MEC Mabuyakhulu, Nhlanhla cited pursuit of
"other business interests" as the reason for her unexpected departure from
the Ithala Group.

The IFP wishes to remind the public that Ithala has recently attracted a
great deal of bad press as a result of loans awarded to politicians and
their relatives. "Tens of millions of rand worth of Ithala loans are
currently irrecoverable due to the bank's laxity in implementing its own
lending rules," said Dr Mtshali.

The IFP contends that Nhlanhla's sudden departure is reminiscent of the
circumstances which surrounded the quitting of Ithala bank's previous CEO
Ike Nxedlana.

"There is little doubt that Nxedlana was forced to go when it appeared to
the ruling party that he was digging too deep to uncover irregularities at
the embattled public entity," said Dr Mtshali.

Nxedlana's departure made way for former head of the provincial Treasury
Sipho Shabalala who is currently under investigation by police for allegedly
soliciting a R1-million donation for the ANC.

"Shabalala's entry into Ithala put an immediate stop to probes into
irregular lending practices at the banking institution and paved the way for
new scandals," said Dr Mtshali.

The IFP pledges to interrogate the matter of Nhlanhla's sudden departure in
the provincial Legislature.