Land Bank Appoints Jabu Mphambo As Acting Chief Executive Officer

The Board of Directors of Land and Agricultural Development Bank of South Africa (Land Bank) has announced the resignation of Chief Executive Officer, Themba Rikhotso, effective 9 February 2026.

In a move aimed at ensuring leadership stability and operational continuity, the Board has appointed Jabu Mphambo as Acting Chief Executive Officer with immediate effect.

Mr Mphambo joined Land Bank on 1 November 2024 as Chief Banking Officer. In that capacity, he has overseen a broad and integrated portfolio that includes client coverage, structured investments, commercial banking, legal services, product development, client insights, and distribution channels. Since joining the Bank, he has played a central role in strengthening operational discipline, improving execution capability, and driving the institution’s enterprise-wide growth strategy — key pillars for a development finance institution that serves South Africa’s agricultural sector.

For farmers and agribusiness stakeholders, continuity at leadership level is particularly important as the Bank continues to support production finance, infrastructure development, and sector transformation initiatives.

Mr Mphambo brings more than 16 years of senior executive experience in banking and financial services. His career reflects a strong blend of strategic leadership, operational execution, and disciplined investment management. He has previously held senior roles at Standard Bank Corporate and Investment Banking, Absa, and Nutun. His investment experience spans corporate finance, mergers and acquisitions, and distressed credit mandates. His sector exposure includes banking, agriculture, mining, payments, building materials, advertising, and diversified financial services — experience that positions him well to understand the complex financing needs of the agricultural value chain.

Mr Mphambo is a Chartered Accountant (SA) and a CFA charter holder. He holds a Master of Business Administration from the Gordon Institute of Business Science, as well as a Bachelor of Business Science (Finance) and a Postgraduate Diploma in Accounting from the University of Cape Town. In 2019, he was recognised as a finalist in the Top 35 CA(SA) Under 35 awards — a distinction that highlights emerging leaders within South Africa’s accounting profession.

The Board has expressed full confidence in Mr Mphambo’s leadership during this transition period and reaffirmed its commitment to ensuring stability, continuity, and sustained progress at Land Bank. For South Africa’s farming community, the appointment signals a steady hand at the helm of one of the country’s most critical agricultural financiers at a time when access to capital, risk management, and sector resilience remain central to the future of the industry.