The chairman of state owned Land Bank, Arthur Moloto, warned that the bank could lose its total R41 billion portfolio if the bank’s rights as creditor were not protected.
The Land Bank specializes in the funding of commercial farmers and should take government land without compensation, the bank will have to pay back R9 billion.
The Land Bank is funded by local and capital markets and land expropriation without compensation will dry up the funding which will cause the bank’s total portfolio of R41 billion to be repaid. The Bank will not be able to do it and the government will have to intervene to carry the debt.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
