Agri SA has learnt of the resignation of the Chief Executive Officer at the Land Bank, Mr Ayanda Kanana, as well as executive manager: agricultural economics and advisory, Dr Litha Maginxa.
“In his tenure, Mr Kanana was a consummate professional who made all interactions with the institution and himself pleasurable,” says Christo van der Rheede, executive director of Agri SA. “He took over the role at a crucial time and played a critical role in trying to steer the ship to safe waters, as so to speak. For that, we extend our sincerest appreciation and well wishes.”
Given the magnitude of the Land Bank and the imperative role it plays in financing the agricultural sector, Agri SA remains hopeful that the institution’s challenges relating to its debt commitments and liquidity will still be tackled with urgency. “It is of critical importance that the bank returns to being a stable, profitable and trusted institution, as many of the new entrants in the sector rely on this vehicle where they would otherwise not receive the same opportunity and assistance elsewhere. As a vehicle for affordable developmental finance, we implore that this function remains key in the bank’s objectives and is embedded deeply as it continues on its course to recovery.”
Van der Rheede says that Agri SA is confident that the newly installed board, under the leadership of Ms Thabi Nkosi, and the new incumbent at the helm of the Land Bank will prioritise stability and will inspire confidence once again in the institution. “The Land Bank is too big of an institution to fail and it should be protected at all costs,” he urges. “The latter can be certainly achieved through clarity and certainty about the direction the Land Bank is taking, especially in terms of its core focus areas as an entity.”
Enquiries:
Christo van der Rheede
Agri SA, Executive Director
(C) 083 380 3492
