Land Bank appoints chair, CEO
Fin24

Land Bank appoints chair, CEO

2014-12-11 18:13

Johannesburg - The National Treasury said on Thursday that Mabotha Arthur Moloto had been appointed chairperson of the Land Bank board and Tshokolo Petrus Nchocho CEO.

Finance Minister Nhlanhla Nene said: "Mr Moloto and Mr Nchocho bring extensive expertise and experience to the Land Bank, an institution which plays and will continue to play a key role in the development of the agricultural sector.

"Agriculture is one of the priority areas of government and one which is expected to grow the economy and create close to one million jobs by 203."

The appointments were approved by Cabinet on Wednesday.

Remarkable turnaround

Moloto was appointed for a term of three years, from January 2015 to December 2017 and Nchocho for five years, running from January 2015 to December 2019.

Nene said the Land Bank had undergone a remarkable turnaround and growth since 2008 when it was rescued from near-collapse.

Between 2008 and 2014 its loan book grew by 180%, R12bn to R33bn.

This growth in the loan book has outstripped the growth of the bank’s capital base, even after the government had injected R3.5bn new capital and provided the bank with R2.5bn in guarantees.

He said the faster growth in the loan book had affected the bank’s financial strength which needed to be consolidated to prepare for the bank’s next growth phase.

Wealth of expertise

"This is where Mr Nchocho’s experience at the Development Bank of Southern Africa [DBSA] will be most valuable."

He previously served as acting CEO of the DBSA for eight months, during which time he initiated the bank’s organisational review which prepared the ground for the incoming CEO.

He said Moloto brought a wealth of expertise as a member and leader of the boards of various entities.

He was most recently chairperson of the Government Employees Pension Fund (GEPF) and a director on the board of the Pan African Infrastructure Development Fund.

He is currently a director of the DBSA, Kansai Plascon Africa and Afhco Holdings.

Comments
  • Thomas Jordaan - 2014-12-11 18:29

    I need a tender for a farm sir I have never ran a farm before but I think I can farm. Lol

  • Mike Mike - 2014-12-11 18:48

    Am pretty sure they are going to give Malema his farm back

  • Leon Jnr Jooste331 - 2014-12-11 18:51

    Will be ready by "203" sjoe didn't know a year like that exist so that must be bloody far away lol

  • Donald Dykman - 2014-12-11 19:26

    I sometimes wonder do the anc keep a roster of struggle heros who has not yet earned ceo salaries or do they just draw staws?

  • Nikki Downes - 2014-12-11 21:38

    Priority area. Key people in place. Oh-oh

  • Duncan Gohl - 2014-12-12 06:27

    Someone gets a turn at the till !. Just how many kids does Zipper have ???

  • Todays Realist - 2014-12-12 10:28

    The problem I see is that these people are appointed by an incompetent, corrupt and Racist ANC. Do they really have any relevant experience? So far the ANC track record does not tell any good stories!

      Nikki Downes - 2014-12-12 11:33

      They are ANC members and the land bank is owned by the government. Strategic yes?

  • pages:
  • 1