Durban – Ithala SOC Limited has appointed Delisile Mti as head of credit for the financial institution.

Mti’s executive responsibilities in her new role would be to manage the organisation’s strategic credit risk, which includes identifying existing or potential credit risks, controlling and minimising them; developing and implementing sound and prudent credit policies; and developing and managing effective credit granting and collection systems.

“We are very pleased to welcome Ms Mti to the executive team of Ithala.

“We believe that her expertise and experience will be beneficial to us as we modernise and transform our systems to enable us to compete effectively in the banking market,” said Danny Zandamela, Ithala SOC Limited’s chief executive.

Originally from Nquthu, in northern KwaZulu-Natal, Mti has spent 21 years in banking, managing public and private sector credit and overseeing departmental business growth and performance for Nedbank and First National Bank (FNB).

She joins Ithala from FNB where she spent nine years first as Head of Credit Public Sector Banking and then as Senior Credit Manager: Business Credit.

In her position in public sector credit she developed and documented the first public sector credit policy and put effective governance structures in place.

Her early career includes a stint at Coopers & Lybrand in 1990; four years as a treasury accountant at Afrox; as a trainee credit analyst at ABSA in 1994; three years at SA Airways managing the state-owned entity’s tax matters and two years as an entrepreneur, consulting to small businesses.

Mti also holds an MBA from the Herriot-Watt University, Edinburgh; a B.Com Honours degree from Unisa; a B.Com degree from UCT and an Associate Diploma in Banking (CAIB) from the institute of bankers.