By Lehlohonolo Lehana.
Themba Rikhotso, who steered the Land Bank out of a four-year debt default, has resigned as the Chief Executive Office (CEO) and will remain in his role until April 2026.
Rikhotso joined the Land Bank on April 1, 2023. He assumed leadership during a challenging period for the Land Bank and provided steady and focused leadership during a critical phase of the bank’s stabilisation.
In a statement, the bank said Rikhotso will be taking up a role at another South African banking institution. The bank said Rikotso assumed leadership during a particularly challenging period and provided steady and focused leadership during a critical phase of its stabilisation.
“Under his tenure, the Bank achieved notable progress in its turnaround programme, including conclusion of the liability solution, undertaken in close collaboration with the Bank’s lenders and with the support of the National Treasury,” the bank said.
“These efforts have contributed meaningfully to the process of strengthening the Bank’s financial position and its operational resilience.”
Rikhotso’s resignation comes amid growing legal uncertainty surrounding the bank’s standing to pursue liquidations against farmers.
Land Bank Board said it remains committed to keeping its strategic objectives on track. Plans are underway to ensure leadership continuity and organisational stability, with details on interim arrangements and future executive appointments to be announced in due course.