LandBank – 08/10/2025
On October 6, 2025, the Land Bank of South Africa officially launched its journey to become a Sustainability Certified Financial Institution under the Sustainability Standards and Certification Initiative (SSCI).
The occasion signaled a new chapter in the bank’s transformation agenda. The high level session held virtaully was attended by His Excellency Stone Sizani, Ambassador of the Republic of South Africa to the Federal Republic of Germany; Mr. Tom Hoyem, Board Member, EOSD International Council of Sustainability Standards and Former Cabinet Minister, Kingdom of Denmark; Dr. Patricia Ojangole, Chair, Association of African Development Finance Institutions (AADFI) & Managing Director of the Uganda Development Bank (UDB); Mr. Arshad Rab, Chairman, International Council of Sustainability Standards and CEO, European Organization for Sustainable Development (EOSD); Dr. Themba Rikhotso, CEO, Land Bank South Africa; and Mr. Cyril Okoye, Secretary-General, AADFI.
Highlights of the Speakers at the occasion:
Ambassador Stone Sizani commended the Land Bank for taking the bold step to enroll in the SSCI sustainability certification, which aims to become a sustainability-centric development bank. He noted that this step marks a national milestone, reaffirming his government’s support and the bank’s renewed commitment to inclusive growth and climate resilience. “By joining this initiative, the Land Bank demonstrates that it is also prepared for the future,” he affirmed.
Mr. Tom Hoyem welcomed the Land Bank of South Africa into the SSCI, commending its leadership for committing to a rigorous and transformative process. He emphasized that the SSCI journey is reserved for institutions that reject superficial efforts and embrace genuine sustainability, stating: “This initiative is exclusively for those institutions that are committed to embracing true sustainability and categorically reject greenwashing or population gimmicks in the financial industry and beyond.”
Dr. Patricia Ojangole commended Land Bank’s leadership for embracing sustainability as a strategic imperative, noting that the certification will modernize the bank’s operations, strengthen its governance, and enhance its real economic impact. “It’s a bold step in the right direction,” she stated, emphasizing the need for African DFIs to evolve in response to climate risk, regulatory shifts, and technological disruption.
Mr. Themba Rikhotso reflected on the institution’s operational challenges, including its 2020 debt default, and outlined a five-pillar turnaround strategy aimed at restoring the Land Bank’s financial sustainability and effective execution of its mandate. He emphasized that the SSCI’s Octagon Value Creation Model offers a comprehensive framework to address inefficiencies and reposition the bank for long-term impact. “By joining the SSCI program, we are declaring that sustainability must be embedded in every critical aspect of our business – from strategy to operations, from products to partnerships.” The bank is committed to holistic transformation and inclusive development.
Mr. Arshad Rab emphasized that embracing the SSCI journey is a business necessity in today’s global landscape. He appreciated the Land Bank’s management for embracing innovation, digitalization, and inclusive practices, stating: “A bank that has no or little regard for the society and environment in which it operates… cannot be a good bank. Not in the 21st century.”
Mr. Cyril Okoye closed the session by reaffirming the AADFI’s full support for the Land Bank’s SSCI journey. “To ensure that the exercise is smooth, the AADFI will closely monitor the progress, engage with the bank and the EOSD, and provide support through the SSCI I-Lead on this strategic journey,”. He also emphasized that the Land Bank’s success in the SSCI journey will depend on the engagement of its stakeholders. “No matter how hard the system works and how much support the bank enjoys… success will depend on the level of engagement of its stakeholders,”. This launch marks the beginning of a new era for the Land Bank – one where resilience, innovation, and growth are aligned with sustainability, setting a strong foundation for transformation.
Source: LandBank