Tag: development finance institution

Downgrade material for Land Bank, to consult lenders

The Land Bank's debt has become more expensive with Moody’s downgrading the bank to junk status. The credit ratings agency said this was due to the unlikeness of the South African government being able to support the Development Finance Institution in time of need. Joining CNBC Africa to discuss what this means is Sydney Soundy, Acting Chief Executive Officer of the Land Bank.