Gauteng MEC pleads with Kganyago not to leave Drip dry
Gauteng finance MEC Lebogang Maile issues plea for leniency to Reserve Bank governor after local fashion brand breaches exchange controls
06 August 2024 - 15:24
The future of Drip Group, one of SA’s fastest growing fashion brands, is in peril after the Reserve Bank seized $200,000 of the company’s funds after finding it had breached the country’s exchange control regulations, a move that has seen Gauteng MEC for finance and economic development Lebogang Maile now pleading with the central bank not to liquidate the company.
A spokesperson of the company, founded and run by Lekau Sehoana, refused to comment, saying the group’s lawyers were seized with the matter...
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