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The Board of Directors of the Land and Agricultural Development Bank of South Africa (“Land Bank”) announced on 9 February 2026 the resignation of Mr Themba Rikhotso as Chief Executive Officer. 

To ensure leadership stability and continuity during this transition period, the Board appointed Mr Jabu Mphambo as Acting Chief Executive Officer with immediate effect. 

Mr 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. 

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. 

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. 

Mr 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. 

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

Issued by Land Bank