Finance Minister Enoch Godongwana announced on September 5 the appointment and reappointment of directors to the board of the Land and Agricultural Development Bank, effective September 3. These changes aim to enhance governance and strategic leadership within the institution.
The Ministry of Finance highlighted that the appointments, made under Section 9(1) and 9(2) of the Land and Agricultural Development Bank Act, include the reappointment of two seasoned directors and the addition of six new directors.
The reappointed nonexecutive directors, Professor Johann Frederick Kirsten and Egashnee Pillay, will serve two-year terms ending on September 2, 2027. The new nonexecutive directors appointed for terms ending on September 2, 2028, are Phumzile Hazel Maseko, Simthandile Ford, TF Matlala, Mcebisi Skwatsha, and Xikongomelo Maluleke. Additionally, Mabotha Arthur Moloto has been named as a director for a two-year term ending September 2, 2027.
All appointments are subject to necessary security, qualification, and other relevant checks.
Godongwana expressed gratitude to the outgoing board for their strategic guidance during a challenging financial restructuring period and for their efforts in securing a liability solution for the bank’s sustainability.
“The Land Bank has made significant progress, but it must continue to build on the previous board’s achievements by addressing capacity constraints, tackling its high-cost structure, and diversifying revenue streams,” Godongwana stated in a media release.
The Ministry emphasized the Land Bank’s crucial role in supporting South Africa’s agricultural sector and rural development initiatives. “The Land Bank’s support for both commercial and emerging farmers, as well as rural communities that depend on land for their livelihoods, is essential for inclusive and sustainable economic growth,” Godongwana added.