Cash alone 'won't save Land Bank'
The bank's credit rating has deteriorated significantly, meaning it cannot raise funding from capital and debt markets
Money isn't enough to save the Land Bank. This is the view of Christo van der Rheede, executive director of Agri SA, who said this week that even with the bailout announced in the recent budget, in terms of what the government expects the Land Bank to deliver, the funds will not make it sustainable.
Van der Rheede said rather than being a piece in a fragmented puzzle, the Land Bank needs to be made the custodian of agricultural development in SA and set the strategy for the industry, take ownership of state land so it has an asset base and guide various government departments in a unified fashion...