27 Mar 2013
The Minister of Finance Pravin Gordhan and the chairman of the Board of Directors of the Land Bank, Dr Ben Ngubane, has confirmed that Phakamani Hadebe will step down as the chief executive officer and a director of the bank when his contract expires on 3 December 2013.
Hadebe first joined the Land Bank as an interim CEO in July 2008 when he was seconded by National Treasury immediately after the transfer of the administrative powers entrusted by the Land and Agricultural Development Bank Act 2002 from the then Minister of Agriculture and Land Affairs to the Minister of Finance.
He joined the bank at a time when its finances were in a perilous state because of mismanagement, fraud and corruption.
His first task was to lead the process of stabilising the bank’s finances as well as implement the turnaround strategy whose main pillars were governance and adherence to the bank’s core mandate.
This was achieved and the Land Bank is today financially stronger and already plays its role in the development of the agricultural sector.
Minister Gordhan and the board of the Land Bank thanked Hadebe for his sterling contribution to the strengthening of the Land Bank’s finances and placing the institution on the road to a much more solid financial footing.
The Board of the Land Bank is in the process of finding Hadebe’s successor.
In this regard, an advertisement of the CEO’s post was published and the board will manage the process to ensure smooth handover from Hadebe to the new CEO of the Land Bank.
House for sale in Trafalgar R 650 000
House for sale in Soshanguve R 349 000
Townhouse for sale in Sonneglans R 1 390 000
House for sale in Pretoria North R 875 000
Farm for sale in Hartbeeshoek R 2 750 000
House for sale in Albertville R 980 000
House for sale in Honeydew Ridge R 2 900 000
House for sale in Plumstead R 1 875 000
House for sale in Doornpoort R 940 000
House for sale in Karenpark R 750 000
If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.
For the best browsing experience update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.
Please contact our Customer Service Centre for further assistance. Tel. +27 (0)861 111 724