New directors for Land Bank

By Drum Digital
06 July 2012

The Land and Agricultural Development Bank has two new board members and has re-appointed two existing ones.

The new members are chartered accountant Lebogang Serithi and Agricultural Business Chamber CEO John Purchase, the bank said in a statement on Friday.

The re-appointed board members were Nomavuso Mnxasana and Bafana Mathidi.

Serithi would serve as the Land Bank's chief financial officer.

He holds a Master of Commerce (financial management) degree from the University of Johannesburg and previously held positions in Mvelaphanda Holdings, the National Treasury, Rand Merchant Bank, and Investec Bank.

Purchase would serve as a non-executive board member. He has a PHD in agricultural sciences from the University of Free State.

Mnxasana, who would also take a non-executive position, is a chartered accountant serving on various boards as a non-executive director, and holds a Masters in Finance from the University of London.

We are honoured to have these directors on board as they bring extensive experience in the areas of financial, investment, audit, and risk management," said board chairman Ben Ngubane.

Land Bank CEO Phakamani Hadebe also welcomed the appointments, which coincided with the company's centenary celebrations.

He extended his gratitude to outgoing board members Herman van Schalkwyk and John Motloba.

"They have set a very good example over the years and we're grateful for their valuable contribution and wish them well in their future endeavours," Hadebe said.

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