South Africa Land Bank Reaches Agreement to End Debt Default
- Lender to resume loan repayments Sept. 16, chairwoman says
- Land Bank has been in default for the past four years
Cattle grazing on a farm, outside Delmas in the Mpumalanga province, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s biggest lender to farmers reached an agreement to resume repayments on its debt, four years after it defaulted.
The Land & Agricultural Development Bank of South Africa will resume repayments on its loans on Sept. 16, Chairwoman Thabi Nkosi told reporters in the capital, Pretoria, on Monday.