Following the approval by the Minister of Finance, the Land and Agricultural Development Bank of South Africa (Land Bank) has welcomed recent appointments to its board, which it believes will serve to strengthen its commitment to good corporate governance.

These include the reappointment of the following non-executive directors of Land Bank for a period of three years with effect from 1 June 2018: Mr. MA Moloto, chairperson of the board;  Ms. D Hlatshwayo, newly appointed deputy chairperson of the board and chairperson of the Land Bank Insurance Companies’ boards; and Ms. SA Lund, chairperson of the Risk and Governance Committee. In addition, Land Bank wishes to thank Prof. ASM Karaan, resigned 31 August 2017 and Ms. N Zwane, term expires 30 June 2018 for their services and contributions as non-executive directors of Land Bank during an extended period.

Dr. ST Cornelius and Mr. M Makgoba have been appointed as new board members for a period of three years, effective 1 June 2018, as replacements to the outgoing non-executive directors. Dr. Cornelius is a veterinarian with extensive management experience in the agricultural and biological fields. He holds the following qualifications: BSc (Hons), Wits; BVMCh, Medunsa; BVSc (Hons), University of Pretoria; SEP, Harvard / Wits; MRSB, London; and MinstDir, SA. Dr. Cornelius is currently a senior lecturer in veterinary physiology at the University of Pretoria and he holds a directorship in Onderstepoort Veterinary Pharmaceuticals.

Mr. M Makgoba is a development specialist with a background in town and regional planning and extensive experience in various related fields. His qualifications include: BAgric, University of Limpopo; BAgric (Hons), University of Limpopo; Masters in Development Studies, University of the Free State; and a Masters in Town and Regional Planning, University of the Free State. Mr. Makgoba holds no other directorships. Land Bank’s responsive board continues to play a critical role in providing governance and oversight on its core mandate of facilitating transformation and inclusive access to the agricultural sector.

The bank’s commitment to good corporate governance is evidenced in nine consecutive years of unqualified audit reports to 2017, with vastly strengthened performance year-on-year. The board continues to work tirelessly together with the executive management team to provide shareholders and other stakeholders with the assurance that the Land Bank Group is managed with due consideration to risk and compliance. – Press release