MASERU – After an outcry that left wool and mohair farmers in Mokhotlong particularly complaining about delay in payment processes, Standard Lesotho Bank has come forward to acknowledge the inconvenience caused.
The bank blames the delays on the fact that payments are being processed manually as per the farmers’ request.
Consequently, the bank told a press briefing in Maseru yesterday that is currently receiving unusually large volumes of wool and mohair farmers in Mokhotlong, which prompted them to beef up the capacity to expedite payments to the farmers.
“These payments are being processed manually as demanded by the farmers as opposed to the usual online and faster payment transfers. As a bank, we take seriously our responsibility of serving our valued customers.
“As such, the recent challenges being experienced by the wool and mohair farmers to access their funds due to delays not of our own making is of great concern to us,” Standard Lesotho Bank chief executive officer Mpho Vumbukani said.
Going forward, the bank is engaging with the responsible clients, the payment broker (Maseru Dawning) and the Lesotho Wool and Mohair Growers Association to agree on an effective and mutually acceptable long-term solution to the ongoing challenge.
One such alternative is the automated payment process that the bank currently has for all their corporate and business clients. The automated payment process is capable of making up to 10, 000 payments at a time.