PRESS RELEASE: BKB
DATE: MONDAY 25TH JUNE 2018
BKB AND THE WOOL AND MOHAIR INDUSTRY IN SOUTHERN AFRICA – PARTNER OF CHOICE AT THE WOOL & MOHAIR EXCHANGE FOR GROWERS AND TRADERS FROM LESOTHO AT PORT ELIZABETH AUCTION HOUSE.
BKB is a South African Public Company that has consistently been a trusted brand by the growers and traders in Lesotho and other countries in Southern Africa as a broker of choice for the auction of wool and mohair. BKB informs Basotho that it is not the only broker in the region and growers and traders have a choice to trade with whoever they wish as we all know that all persons in business transact in a free market enterprise and at free will with whomever they so choose and desire.
BKB is deeply concerned that the general public and Basotho are consistently being misinformed on social platforms and over media.
BKB has consistently been producers centric in its approach to all its business associates. It is this producer centric approach that has made BKB a partner of choice for Basotho growers and traders at the point and port of auction at Port Elizabeth. The trust and integrity we espouse has seen the Lesotho Wool and Mohair Growers Association (LNWMGA) and members of Farmers Rock association (an Association of Traders) choosing BKB as their Broker.
On or about the 23rd January 2018 BKB was served with an Order of Court, which Order was sought without notice to BKB on the following allegations;
BKB consulted its Attorneys in Lesotho and instructed them to oppose and file court papers for opening of the said Bank Account.
The Court granted the Order in favour of BKB that read as follows;
“The Order granted by the 1st Respondent (Magistrate) on the 12th day 2018 freezing Account Number: 0140081106301 held with the 4th Respondent (bank) is set aside as being null and void ab initio.”
We wish to place on record that the Bank Account was not opened on the order or instruction of any person but by an Order of Court. Secondly the said account is meant for payment of all proceeds relating to wool and mohair to the beneficiaries who had sent their fibre to BKB in Port Elizabeth.
BKB was again assessed by the tax authorities in Lesotho and sought advice from our Auditors and sent letters to the Lesotho Revenue Authority through our Lesotho Attorneys but to date a response is awaiting; though a follow-up letter was made and served on the LRA on 14th May 2018.
We wish to reiterate that BKB trades as a South African Broker in Port Elizabeth for the growers and traders of Lesotho and Other Southern African countries.
For copies of this Press Statement contact:
Jacobus A le Roux – General Manager: Corporate Marketing & Public Relations
T: +27(0)41 503 3003
C: +27(0)82 411 6316