GPS coordinates: lat: -23.833279 - lng: 30.158701
LANDBANK
Address:
6 Kew Street, 0850 Tzaneen
Telephone:
(015) 306 6000
Fax:
(015) 307 4375
Description
Land Bank is an agricultural development finance institution that supports economic growth through the provision of retail, wholesale, project and micro-financial services to agriculture and related rural services. Land Bank is an agricultural development finance institution that supports economic growth through the provision of retail, wholesale, project and micro-financial services to agriculture and related rural services.
To be a profitable Bank in land and commercial agribusiness banking and insurance in order to enable the generation of capital resources to deliver our financial and non-financial development mandate in an impactful, visible and sustainable way.
Keywords
Bank, Financial Services, Retail, Wholesale, Tax, Investments, Developments, Financing, Project, Institution, Growth, Commercials, Technique, Financial Resources, Agricultural Financier, Agricultural Development Bank, Financing High-Risk Agriculture, Agricultural SectorsCompany description
The Land and Agricultural Development Bank of South Africa has been the leading agricultural financier in South Africa since its inception 1912. Land Bank offers tailor made financial services to established and emerging farmers. Land Bank does not receive any financial subsidy from the government but gets its money from the money markets. It competes with other financial institutions to lend money from the markets which it then on-lend to clients at market related interest rates. However, because Land Bank does not pay tax and dividend to the government, it uses the money that could have been used in those instances to support development. In 1995, then President Nelson Mandela appointed the Strauss Commission of Inquiry on Rural Finance. The Commission was to look into the transformation of Land Bank with a view of making it more accessible to all South Africans. Stressing the need for the Bank to serve a much broader spectrum of clients, the Strauss Report also emphasised that rural development should not be based on a scaled down version of traditional commercial farming, but on far-reaching innovation. This has involved the development of unique products to provide world-class service and delivery at competitive rates.
From 1997, when the Bank embarked on a new strategic direction, the organisation has transformed. The Bank now boasts an impressive, diversified staff component and a far broader customer base.
Land Bank recognises that as an institution it may not always directly provide all the elements, as some are not in its competence, but it will seek out partners and create alliances to ensure that collectively, the key ingredients that a farmer requires to be successful, are delivered. The alliances and partnership, entered into, will ensure delivery on the most important aspects for emerging farmers' success, which are land, capacity/skills and financial resources.
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