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
Brewmaster Apiwe Nxusani-Mawela takes us through her beer-making journey

Brewmaster Apiwe Nxusani-Mawela takes us through her beer-making journey

She explains how she got into the world of beer after studying industrial microbiology and how she is transforming the industry.

[LISTEN] Film and television industry to enjoy basic labour rights

[LISTEN] Film and television industry to enjoy basic labour rights

Government has gazetted its intention to review the labour rights and conditions of employment of those working in the industry.

Defiant Gauteng DA councillors face expulsion, says Mike Moriarty

Defiant Gauteng DA councillors face expulsion, says Mike Moriarty

Vinay Choonie and Basil Douglas are facing expulsion and removal from their positions after defying the DA.

EFF media outlets ban is against freedom of expression  - Sanef

EFF media outlets ban is against freedom of expression - Sanef

It is reported that the party has denied access to journalists from Daily Maverick, Scorpio, amaBhungane, Rapport and Caxton.

Best to travel during the day along the N3, says Toll Concession

Best to travel during the day along the N3, says Toll Concession

N3TC commercial manager Con Roux details some tips and statistics if you are travelling to KZN this December.

Tips to make your home less vulnerable to crime this holiday season

Tips to make your home less vulnerable to crime this holiday season

MultiNet Home Loans CEO Shaun Rademeyer says criminals are getting smarter and do their research beforehand.

Popular articles
Why Pepkor gave up on Zimbabwe (where it once had 200 stores) after decades

Why Pepkor gave up on Zimbabwe (where it once had 200 stores) after decades

Leon Lourens (CEO, Pepkor) discusses his company’s financial results with Bruce Whitfield on The Money Show.

[WATCH] 'I didn't poop, I peed,' kid excited that he went potty successfully

[WATCH] 'I didn't poop, I peed,' kid excited that he went potty successfully

Khabazela shares tweets and Facebook posts that have gone viral.

Old Mutual: Unhappy how Peter Moyo case playing out in court of public opinion

Old Mutual: Unhappy how Peter Moyo case playing out in court of public opinion

Old Mutual's Tabby Tsengiwe explains how axed CEO was refused entry into Old Mutual's offices for the third time.

'Ungratefulness... we’ve already made mistakes teaching our kids about money'

'Ungratefulness... we’ve already made mistakes teaching our kids about money'

Heinz Winckler - the 1st winner of SA Idols - discusses his attitude toward money (hopes and fears, successes and failures, etc.).

 [WATCH] Justin Bieber does push-ups and sings for fans after car breaks down

[WATCH] Justin Bieber does push-ups and sings for fans after car breaks down

Khabazela shares tweets and Facebook posts that have gone viral.

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

Meet Whitey Basson (the retail guru who turned Shoprite into a R127bn behemoth)

The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.