Africa & Middle East
|Date joined:||20 June, 2013|
The Land and Agricultural Development Bank of South Africa (Land Bank) is a development finance institution whose mandate is to support, promote and facilitate the development and transformation of the agricultural sector. From its inception in 1912 until 1936, the bank provided mortgage loans to emerging and commercial white farmers. At the dawn of democracy, the democratic government promulgated the Land and Agricultural Development Bank of South Africa Act (Act 15 of 2002) that was meant to address inclusive needs of the South African society in the agricultural sector. The Bank is wholly owned by the South African government and is a key financial player in agriculture. It provides retail and wholesale finance to the nation’s development and commercial farmers. As a key agency of government in the agricultural sector, the bank contributes strategically to rural poverty reduction, sustainable economic performance and drives development and transformation in the agricultural sector.
As a responsible lender and in order to ensure longevity as an institution, Land Bank is committed to sound environmental practice both internally and with its clients. With every loan dispensed and every farming enterprise initiated, the bank ensures that it follows agricultural practices do not harm the environment but adds value and is sustainable in the long run.
The Bank’s core mandate includes the following objectives:
- Provide finance for emerging farmers in pursuit of the equitable ownership of land, agrarian reform and land distribution.
- Remove the legacy of past racial and gender discrimination.
- Promote food security and support commercial agriculture.