Land Bank boss Tshokolo Nchocho on the dire consequences of expropriation
Bank wary of politics' effect on issue, and on its own credit profile
If expropriation without compensation is not handled carefully, the likely consequences don't bear thinking about, says Land Bank CEO Tshokolo Nchocho. "They are just too dire to contemplate." President Cyril Ramaphosa has given assurances that land expropriation will not harm the agricultural sector or the economy. Nchocho says he doesn't know, "to be honest", if such consequences can be avoided. "We have taken a view that we have no reason to doubt the bona fides of the leaders of government when they make such a public declaration, but we cannot prophesy what is going to happen in parliament when the politics plays itself out." Nine years ago, the Land Bank was on its knees after years of corruption, looting and maladministration. It had to be taken under management by the National Treasury. The then finance minister, Pravin Gordhan, said he hoped new leadership would steer the bank "safely through the challenges that lie ahead". Nchocho, 51, and his chairman, Arthur Moloto, who ...
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