Land Bank names new chief

Mukoki will this week meet the Land Bank board to focus on the cabinet lekgotla priority areas that will include the agriculture credit scheme.

The credit scheme was first announced by President Thabo Mbeki in his May 2004 State of the Nation Address.

The minister's spokesperson Nana Zenana said it was also envisaged that Mukoki, "who has a wealth of banking experience particularly in risk and credit management and monitoring, will give his strategic perspective to the board on how best the bank can fulfil its development mandate".

Mukoki succeeds Monwabisi Fandeso as CEO.

The mandate for development was first recommended by the Strauss Commission, which expanded the bank's role as the lead provider of rural financial services.

Zenana said the Land and Agricultural Development Bank Act - passed in 2002 - further institutionalised the bank's development mandate to incorporate previously disadvantaged individuals in its products and services.

This include the promotion and facilitation of equitable ownership of agricultural land by historically disadvantaged persons; agrarian reform, land redistribution and development programmes; agricultural entrepreneurship and enhancing productivity, profitability investment and innovation in the agricultural and rural financial systems.

The Land Bank will be working in partnership with the Post Bank, the Development Bank of Southern Africa, provincial development financial institutions, locally-owned financial services institutions, agricultural companies and co-operatives to ensure the effective implementation of the agriculture credit scheme.