LUCAS LEDWABA
THE CONTINUING cash troubles plaguing the Land and Agricultural Development Bank of South Africa (Land Bank) which told parliament this week it’s in dire need of recapitalisation from shareholders if it is to efficiently fulfil its developmental mandate could hurt black farmers more.
The Land Bank presented its woes which include a shortfall of billions in unpaid loans and downgrades by credit agency Moody’s to the standing committee on appropriations.
The bank was downgraded three times, in January, February and April last year.
The committee noted the significance of the bank’s developmental mandate, especially for emerging black farmers, women, youth and people with disabilities in agriculture.
It also said however that access to funds remains a challenge for black farmers and encouraged officials of the Land Bank to pay closer scrutiny to this.
The bank revealed in its presentation to the committee that it had made significant effort
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