Wool and mohair farmers in Lesotho blame Standard Bank for broker's nonpayment

About 40,000 wool and mohair farmers in rural Lesotho have accused Standard Bank of helping a broker who is failing to pay them.

The farmers, who have been clients of the bank for decades now, were forced by the government of Lesotho to export their produce after Maseru Dawning failed to pay them for months.

Eyewitness News reporter Nthakoana Ngatane explains the situation.

The farmers are saying why is Standard Bank not flagging this particular company for not being able to meet its requirements in terms of paying them. They are now taking Standard Bank to task.

Nthakoana Ngatane, Reporter - Eyewitness News

The farmers are saying only 30% of their proceeds have been paid to them.

Nthakoana Ngatane, Reporter - Eyewitness News

Many farmers are unable to feed their families, unable to take their children to school.

Nthakoana Ngatane, Reporter - Eyewitness News

Listen to the full interview below...


Recommended

by NEWSROOM AI
Read More
SA model and lawyer Thando Hopa to deliver a talk at World Economic Forum 2020

SA model and lawyer Thando Hopa to deliver a talk at World Economic Forum 2020

Hopa spoke to Joanne Joseph on the Afternoon Drive to give listeners an idea of some of the issues she will be tackling.

Discovery Vitality team going the extra mile to fix rewards point system

Discovery Vitality team going the extra mile to fix rewards point system

Discovery Vitality CEO Dinesh Govender says it has faced some technical issues with its revamp.

[LISTEN] Insurers now using drones to asses damages and claims

[LISTEN] Insurers now using drones to asses damages and claims

Joanne Joseph spoke to Old Mutual Insure's executive for High-Net-Worth Solutions Christelle Colman to find out more.

Mamelodi's first of its kind black-owned private clinic

Mamelodi's first of its kind black-owned private clinic

Co-founder Mabu Sekhaolelo says the clinic aims to help patients who want to avoid long queues or have time constraints.

[LISTEN] Putting two versions of Deloitte deals at Eskom under a microscope

[LISTEN] Putting two versions of Deloitte deals at Eskom under a microscope

Susan Comrie reports on how the firm received two consulting contracts at Eskom where it partnered with auditing firm Nkonki Inc.

House of Representatives to send Trump impeachment charges to Senate

House of Representatives to send Trump impeachment charges to Senate

The chamber will ponder over whether President Donald Trump should be removed from office, and for a resulting trial to begin.

Popular articles
How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.