Gordhan reprimands Land Bank

Pretoria - The Land Bank must increase its developmental role in line with the new administration's rural development strategy, Finance Minister Pravin Gordhan said on Friday.

Addressing staff at the bank's head office in Pretoria, Gordhan said rural development formed the backbone of government strategy going forward, and that the Land Bank should respond accordingly.

"We are not here to serve ourselves, no matter how critical that may be. We are here to ensure that the conditions of our people in the rural areas are transformed through our action," he said.

Gordhan further emphasised the need for the Land Bank to restore its image through following good governance practices.

The bank needed to move away from activities meant to advance the "selfish ends of individuals" thus depriving the rest of the community the opportunities.

"We must be activists and agents of social change and be intolerant of corruption, mismanagement, and maladministration. We must operate with integrity," Gordhan said.

In reply, the Land Bank's CEO Phakamani Hadebe assured the minister that the bank would engage and further realign its activities to meet the expectations of the new administration.

"The issue of delivery is a non-negotiable and you can bank on us on this, more so in view of the requirement to acceleration of service delivery," Hadebe said.

Former finance minister Trevor Manuel took over control of the Land Bank from former agriculture and land affairs minister Lulu Xingwana last year after several allegations of financial mismanagement at the bank.

- Sapa