More than R47.25 million has been spent on small businesses and contractors in the past year during the redevelopment of Ithala Finance Development Corporation’s (IDFC) oldest retail and office centres in northern KwaZulu-Natal (KZN).
According to the IDFC, the facelift of the Ulundi, Nongoma and Eshowe shopping centres started in October 2017, and is expected to be finalised in October this year. With work on the overall project at about 70% complete on all sites, there is already a marked improvement.
IDFC’s board members recently undertook a visit to the three centres to witness for themselves the progress being made and to get an understanding of the environment in which the organisation operates.
“We are impressed with the progress being made and commend Ithala for taking the initiative to show us their projects. The knowledge and understanding that we gain each time helps us when we receive reports and deliberate and decide on recommendations being made,” said IDFC board member Precious Sibiya.
The IDFC manages fully-integrated business activities that provide a range of financial and property services throughout KZN.