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...


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