Land Bank CEO Themba Rikhotso Resigns

The Land Bank Board has confirmed the resignation of the Bank’s Chief Executive Officer, Mr Themba Rikhotso, who will be joining another South African banking institution.

Mr Rikhotso, who joined the Land Bank on 1 April 2023, will continue to serve for the duration of his notice period, which runs until the end of April 2026.

Assuming leadership during a particularly challenging period, Mr Rikhotso provided steady and focused guidance through a critical phase of the Bank’s stabilisation. Under his stewardship, the Land Bank achieved significant progress in its turnaround programme, notably concluding the liability solution in close collaboration with the Bank’s lenders and with the support of National Treasury. These efforts have played a key role in strengthening the Bank’s financial position and operational resilience.

“On behalf of the Board, we extend our sincere appreciation to Mr Rikhotso for his commitment, leadership, and valuable contribution during his tenure at Land Bank. We take this opportunity to wish him every success in his future endeavours,” said Mr Mcebisi Skwatsha, Chairperson of the Land Bank Board.

The Board reaffirmed its commitment to maintaining momentum in executing the Bank’s strategic objectives. Measures are underway to ensure leadership continuity and organisational stability, with further updates on interim arrangements and future executive appointments to be shared in due course.