Troubled Land Bank gets more funding
Tito Mboweni says the Treasury is supporting the Land Bank, which is looking for a R3bn liquidity finance bridge as it crafts a long‐term plan
24 June 2020 - 16:10
The government will be allocating R3bn to recapitalise the Land Bank, the troubled state-owned specialist lender to commercial and emerging farmers, finance minister Tito Mboweni announced in his supplementary budget speech on Wednesday.
The bank holds 29% of SA’s agricultural debt. It has become the latest state-owned entity (SOE) to hold out a begging bowl after asking for a R22bn cash injection to plug holes in its balance sheet...
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