by Carien Kruger

The Land Bank’s new chief executive officer has 20 years of experience in the financial services sector during which he also held leadership positions in banks.

Themba Rikhotso was appointed as the new chief executive officer (CEO) of the Land Bank, effective as of 1 April.

Khensani Mukhari, who was appointed as the bank’s financial head early last year, served as acting CEO since May 2022 after Ayanda Kanana resigned from the position, which he filled for two years. Shortly after Ayanda became CEO in March 2020, it was made public that the bank could not meet its payment obligations. 

The bank mentions in a press release that Themba has a BCom degree and a Master of Business Administration degree (MBA). Furthermore, he has completed an international executive development program at the GIBS business school of the University of Pretoria, as well as an executive development program at the Wharton School of the University of Pennsylvania in America.

Besides his experience in the financial services sector, he also has extensive executive management experience that affords him solid skills within the retail and corporate banking spheres. He also has experience in the financing of agricultural products in Africa. 

Some of the leadership positions he has filled include executive head of sales, transaction and investment banking at the Standard Bank Group, and head of transaction banking at CFC Stanbic Bank in Kenya.

Thabi Nkosi, the chairperson of their board, said in October that the bank had hoped to reach an agreement with its creditors by the end of last month, during the end of its book year, regarding the restructuring of its debt. 

The bank has yet to announce whether an agreement was reached but the date has been postponed multiple times.