Following the resignation announcement of Land and Agricultural Development Bank of South Africa (Land Bank) Chief Executive Officer Themba Rikhotso on 9 February, the Board of Directors has moved swiftly to ensure stability.

The board has appointed Jabu Mphambo as Acting Chief Executive Officer with immediate effect to “ensure leadership stability and continuity during this transition period”.

Rebecca Phalatse, Head of Communications and Marketing, said Mphambo joined Land Bank on 1 November 2024 as Chief Banking Officer. In this role, he has led a broad and integrated portfolio comprising client coverage, structured investments, commercial banking, legal, product development, client insights and distribution channels. He has been instrumental in strengthening operational discipline, enhancing execution capability and advancing the bank’s enterprise-wide growth strategy.

Extensive Industry Experience

“He brings more than 16 years of senior executive experience across banking and financial services, reflecting a strong combination of strategic leadership, operational execution and rigorous investment management. Mr Mphambo has previously held senior positions at Standard Bank Corporate and Investment Banking, Absa and Nutun,” said Phalatse.

His investment experience includes extensive leadership in corporate finance, mergers and acquisitions, and distressed credit investment mandates. His sector exposure spans banking, agriculture, mining, payments, building materials, advertising and diversified financial services.

Qualifications and Recognition

Mphambo is a Chartered Accountant (SA) and CFA charter holder. He holds a Master of Business Administration from the Gordon Institute of Business Science, as well as a Bachelor of Business Science (Finance) and a Postgraduate Diploma in Accounting from the University of Cape Town. In 2019, he was recognised as a finalist in the Top 35 CA(SA) Under 35 awards.

Board Confidence

The Board expresses its confidence in Mphambo’s leadership and remains committed to ensuring stability, continuity and sustained progress at Land Bank.