Land Bank must be saved ‘at all costs’, says Dondo Mogajane 🔒
The government is fully committed to saving the Land Bank, “at all costs”, Treasury director-general Dondo Mogajane said on Tuesday.
The Treasury is in discussions with creditors of the Land Bank to come to an arrangement following the bank’s failure to pay its obligations in April. The bank warned those holding R50bn of its bonds that it was in default, which triggered default provisions for its other debt.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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