The union aims to prevent the impending liquidation of Ithala Bank. According to NEHAWU, the potential liquidation would negatively impact more than 400 workers employed by the bank.

The Union's Durban Regional Secretary, Prince Mthalane, expressed concern over the situation, stating that the Prudential Authority's application to liquidate the bank has left workers in a precarious position.

"Our primary concern is more than 400 workers that are employed by the institution Ithala Bank. As things stand now, none of them have been paid. Their salaries were supposed to be paid on the 20th of January. They still have not been paid. They've just been left in the dark," Mthalane explained.

Mthalane criticised the hasty manner in which the liquidation process has been handled, highlighting the severe impact on workers who rely on their salaries to support their families. He noted that all transactions by the organisation have been frozen, exacerbating the financial strain on employees.

In addition to submitting the memorandum, NEHAWU plans to take the matter to court on an urgent basis to ensure that workers receive their overdue salaries. The union is determined to protect the rights and livelihoods of Ithala Bank employees, advocating for a more considered approach to the bank's financial difficulties.

--SABC/ChannelAfrica--