Manuel 'to take over Land Bank'
2008-07-13 11:19
Johannesburg - Finance Minister Trevor Manuel is to take over the reins at the troubled Land Bank from his colleague, Agriculture and Land Affairs Minister Lulu Xingwana, the Sunday Times reported.
She will be removed from the bank's business affairs.
The Sunday Times has learned that the decision to withdraw her from her duties of overseeing the bank on behalf of the government is likely to be implemented as early as next week.
National treasury officials have begun working on a takeover plan, following intervention from the presidency to save the ailing bank.
- SAPA