By Staff Writer
The Land and Agricultural Development Bank of South Africa, a cornerstone of agricultural finance in the country, has confirmed the appointment of Jabu Mphambo as its new acting chief executive officer, following the resignation of Themba Rikhotso earlier this month. Mphambo, who previously served as the bank’s chief banking officer, takes the reins at a pivotal moment in the institution’s journey, with stakeholders watching closely as the bank balances its developmental mandate with financial sustainability.
Rikhotso’s departure comes after a period of stabilisation and strategic restructuring, following years of financial uncertainty and leadership transitions that had weighed heavily on the bank’s performance and reputation. He will remain with the institution until the end of his notice period in April, as the board begins the process of appointing a permanent CEO.
Mphambo’s appointment to acting CEO reflects the board’s confidence in continuity at a time when the Land Bank must navigate complex challenges. The institution plays a critical role in fostering agricultural growth by providing development finance to both commercial farmers and emerging producers, serving as a lifeline for those who struggle to access affordable capital through traditional commercial channels.
For many emerging farmers, especially those without established credit histories or significant collateral, the Land Bank’s support can be transformative. Historically, the bank’s mandate included offering tailored financial products and blended finance schemes designed to help smaller producers bridge the funding gap and grow their operations. These initiatives have been positioned as tools to enhance participation in the agricultural value chain, particularly for black farmers and rural entrepreneurs who have traditionally faced systemic barriers to finance.
Yet, the bank’s journey has not been without its difficulties. In recent years it has had to rebound from financial strain, restructuring its operations to improve governance and sustainability. This context makes stable leadership essential — not just for the bank’s own future, but for the broader agricultural sector that relies on its lending and development support.
Mphambo steps into the role with a track record of experience within the bank. As chief banking officer, he was closely involved in the core lending and client engagement functions that underpin the Land Bank’s work. His familiarity with the institution’s systems and stakeholder needs could provide a measure of stability at a time when consistent leadership is critical.
For emerging farmers, this transition may signal both continuity and renewed hope. Access to development finance remains a persistent challenge in South Africa,especially for producers outside the commercial mainstream. With leadership that understands both the financial imperatives of a large development institution and the unique needs of smaller, historically disadvantaged farmers, there may be opportunities to strengthen tailored support mechanisms and ensure that funding flows more predictably into agricultural enterprises that have the potential to drive rural growth and food security.
As the search for a permanent CEO begins, all eyes will be on how the Land Bank positions itself in an era of agricultural transformation, one in which the sector must grapple with climate risks, market volatility and the imperative to include more previously marginalised producers in the economy.
For now, Jabu Mphambo’s appointment represents a transition anchored in experience and a commitment to continuity. How that transition translates into impact on the ground, particularly for emerging farmers seeking access to finance, training and markets, will be a key focus in the months ahead.
