Gogo Jannet Mgozi expressing her disappointment after she arrived at the Ithala Bank, Durban CBD, to find it closed. Video by Mbali Dlungwana
Ithala Bank’s closure in the Durban CBD has left clients shocked and uncertain, with many arriving on Wednesday, 29 January, to find the doors shut. The bank, which has been in the news due to potential liquidation, had been operating until Monday, 27 January, according to a security guard, but the sudden closure left customers stranded.
Among the concerned clients was 71-year-old Gogo Jannet Mgozi from Inanda, who came to inquire about her upcoming pension payment. “I’m devastated to find the bank closed. If this isn’t resolved by next week, my family may not have money for food,” she said, urging authorities to intervene.
Other customers, including an elderly woman from Ndwedwe, were equally frustrated, with one noting her health was too poor to visit earlier but still coming in hopes of answers, only to find the bank no longer assisting clients. “I’ll have to switch banks; I don’t trust them anymore,” she said.
Meanwhile, KZN Premier Thami Ntuli announced that the provincial government and Ithala Bank had assembled a legal team to challenge the bank’s provisional liquidation in the Pietermaritzburg High Court. The team includes Advocate Griffiths Madonsela SC, renowned for representing King Misuzulu in his legal battles. Clients now await clarity on the future of their accounts.
