In this week's edition we take a look at the Zuma effect, surprising ways the economy will change and deliver a sobering Covid-19 report card.
Ratings agency Moody's in mid-January flagged the lack of a permanent head as cause for concern.
Acting CEO of the Land and Agricultural Development Bank of South Africa, Kone Gugushe, has resigned, the board announced on Wednesday morning.
Budget 2019 allocates R10.4bn to the Department of Rural Development and Land Reform to bolster its capacity to expedite the land restitution process.
The Land and Agricultural Development Bank has warned expropriating farm land without compensation could cost the government R41bn if it’s forced to repay the state company’s debt immediately.
Land Bank and Pick n Pay have signed an agreement to provide financial and other types of support for emerging farmers.
FutureGrowth, which said it would stop funding SOEs this month, could do an about-turn amid ratings agency jitters.
Six of South Africa’s largest state-owned enterprises (SOEs) risk having to pay more to borrow money, after the country’s largest and most influential buyer of their bonds said it would avoid investing in them.
The Land Bank has stepped in to provide financial relief to drought-hit farmers who are facing a bleak Christmas.
The African Farmers Association of SA has called on Finance Minister Nhlanhla Nene and the Land Bank Board to appoint a permanent Land Bank CEO.
The Land Bank has recorded a 29.4% increase in net profit from the previous financial year, it says in its annual report.
Land Bank net profit increases
Moody's downgraded Land Bank’s long-term issuer ratings to Ba1, a notch below investment grade and below Transnet and Eskom's ratings.
The Land Bank's profits dipped between 2018 and 2019 as the bank moved to reduce its exposure to risks in its loan book.
The Land Bank is crucial to transformation in agriculture and should have the chance to develop its position on expropriation without compensation, an investment and transformation expert has said.
A state bank won't necessarily aid economic transformation, says Land Bank executive manager of agricultural economics Litha Magingxa.
Deputy finance minister urges reform of parastatals and signing of Fica bill to avoid downgrade.
The Land Bank, a key lender to farmers, has reported a 27% increase in annual profits to R396.2m, despite the country's severe drought.
The Land Bank says drought-stricken farmers can apply for concessional loans to help see them through the lean season.
Mabotha Arthur Moloto has been appointed chair of the Land Bank board and Tshokolo Petrus Nchocho CEO, says the National Treasury.
Growth in the agricultural sector must become more formidable and contribute to the country's gross domestic product, says Deputy Finance Minister Mcebisi Jonas.
The government has approved a R1.5bn guarantee to the Land Bank, in addition to the existing guarantee of R500m, following a credit ratings upgrade by Fitch.
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