By Thys Khiba – The Land Bank has announced the appointment of Themba Rikhotso as its chief executive officer (CEO), effective 1 April 2023.
This comes after Khensani Mukhari previously fulfilled the role of acting CEO as of May 2022.
Mukhari is credited with stabilising the bank during a difficult period.
Rikhotso’s appointment was confirmed by cabinet yesterday after a selection process.
By Thys Khiba – The Land Bank has announced the appointment of Themba Rikhotso as its chief executive officer (CEO), effective 1 April 2023.
He holds a BCom degree and an MBL and has completed an international executive development programme with GIBS, as well as an executive development programme with Wharton.
He has previously served at CFC Stanbic Bank Kenya and Standard Bank Group as head of sales, transaction banking and investment banking.
With his 20 years experience in the financial services sector, and extensive executive management experience offering solid retail and corporate banking skills, alongside experience in funding agricultural projects across the continent, Rikhotso is expected to help the bank to recover from its financial difficulties.
His appointment has been pronounced as a positive development for the Land Bank, and the institution will no doubt be hoping that he can bring the stability and leadership needed to steer the bank towards a brighter future.
The bank is a key institution in South Africa’s agricultural sector, providing loans to farmers and agribusinesses to support the development of the sector.
Recently, the bank has faced challenges linked to financial difficulties, corruption allegations and mismanagement, resulting in a downgrade of its credit rating to junk status in 2019.
Meanwhile, the former ANC Member of Parliament ManyanaRubben Mohlaloga and the former acting head of Land Bank, Philemon Mohlahlane, lost their appeal to overturn criminal convictions for defrauding the bank of R6 million.
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