{"id":4268,"date":"2021-10-10T14:54:23","date_gmt":"2021-10-10T14:54:23","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles"},"modified":"2021-10-10T15:25:06","modified_gmt":"2021-10-10T15:25:06","slug":"bank-dragged-into-wasco-boardroom-squabbles","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles","title":{"rendered":"Bank dragged into Wasco boardroom squabbles"},"content":{"rendered":"

Africa-Press<\/a> – Lesotho<\/a>. <\/strong><\/span>The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors has now spilled into the Standard Lesotho Bank (SLB) threatening the job security of Board Chairman Chabeli Ramolise, a senior SLB employee.<\/p>\n

This paper understands that Ramolise, who is the CIB Operational Risk and Market Risk Analyst for the SLB, is being investigated for conduct that possibly compromises relations between WASCO and SLB, as the conflict between Hoohlo and the Wasco Board of Directors threatens WASCO\u2019s corporate governance.<\/p>\n

Independent investigations conducted by Public Eye this week have revealed that as a result of the WASCO conflict, there were concerns that Ramolise\u2019s involvement could compromise the bank\u2019s good reputation. WASCO is an SLB client which also raised concerns of potential conflict of interest.<\/p>\n

In a recent e-mail, SLB CEO Anton Nicolaisen was asked questions pertaining to WASCO, Ramolise and the bank, as well as the legal issues the WASCO Board of Directors is embroiled in with Hoohlo, wherein Ramolise and the Board were expected to appear before the Labour Court, on a case of Contempt of Court on issues relating to the CEO.<\/p>\n

The other question pertained to criminal investigations into the WASCO Board by the Lesotho Mounted Police Service (LMPS) for alleged fraud and corruption in WASCO, case number: Maseru Central RCI 74\/03\/21).<\/p>\n

Nicolaisen, in his response, told this publication that a Conflict of Interest Policy was in place but he absolves Ramolise of misconduct. \u201cWe can confirm that Mr Chabeli Ramolise is an employee of Standard Lesotho Bank and we are aware that he is also the Chairman of the Water and Sewerage Company (WASCO).<\/p>\n

\u201cIn line with our mandatory requirement for all staff on \u2018declaration of interest\u2019 for any business involvement outside of the bank, Mr Ramolise\u2019s role at WASCO is known to us and has been duly declared through these internal compliance processes,\u201d Nicolaisen said.<\/p>\n

The SLB CEO further noted that it was imperative for staff to \u201cdeclare and update the outside business interests (OBIs) annually and that due processes were \u201cfollowed and managed internally\u201d.<\/p>\n

Nicolaisen added: \u201cIt is compulsory for ALL our staff to declare and update their outside business interests (OBIs) annually. Due processes are followed and managed internally.<\/p>\n

\u201cWe can confirm that the Bank has a Conflict of Interest Policy and in approving all outside interest requests, including the one for Mr. Ramolise, the Bank considered conflict of interest. \u201d<\/p>\n

However, Nicolaisen acknowledged that the bank was aware of allegations levelled against Ramolise, adding that they were aware of the serious allegations and that \u201can internal investigation is being conducted\u201d.<\/p>\n

\u201cWe are aware of these serious allegations and are conducting an internal investigation. In the interests of client confidentiality, we cannot comment on internal matters.<\/p>\n

We will have no further comment until the legal process has been completed,\u201d Nicolaisen said. According to impeccable sources, Ramolise has been requested by SLB to issue a response on the allegations levelled against him.<\/p>\n

This paper could not immediately get a comment from financial institutions regulator, the Central Bank of Lesotho (CBL), on its position on conflict of interest declaration by bank employees, internal policies on the same and penalties imposed by failure to comply, informed by it the Fit and Proper Requirements policy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors has now spilled into the Standard Lesotho Bank (SLB) threatening the job security of Board Chairman Chabeli Ramolise, a senior SLB employee. This paper understands that Ramolise, who is the CIB Operational Risk […]<\/p>\n","protected":false},"author":84,"featured_media":4267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,246,278,245,819],"class_list":["post-4268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-lesotho","tag-bank","tag-lesotho","tag-squabbles"],"yoast_head":"\nBank dragged into Wasco boardroom squabbles - Lesotho<\/title>\n<meta name=\"description\" content=\"The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors ha ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank dragged into Wasco boardroom squabbles\" \/>\n<meta property=\"og:description\" content=\"The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors ha ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-10T14:54:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-10T15:25:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"724\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Bank dragged into Wasco boardroom squabbles\",\"datePublished\":\"2021-10-10T14:54:23+00:00\",\"dateModified\":\"2021-10-10T15:25:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\"},\"wordCount\":556,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"Bank\",\"Lesotho\",\"squabbles\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\",\"name\":\"Bank dragged into Wasco boardroom squabbles - Lesotho\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg\",\"datePublished\":\"2021-10-10T14:54:23+00:00\",\"dateModified\":\"2021-10-10T15:25:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors ha ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg\",\"width\":720,\"height\":724,\"caption\":\"Bank dragged into Wasco boardroom squabbles\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/lesotho\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bank dragged into Wasco boardroom squabbles\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#website\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/\",\"name\":\"Lesotho\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/lesotho\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bank dragged into Wasco boardroom squabbles - Lesotho","description":"The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors ha ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles","og_locale":"en_US","og_type":"article","og_title":"Bank dragged into Wasco boardroom squabbles","og_description":"The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors ha ...","og_url":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles","og_site_name":"Lesotho","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-10-10T14:54:23+00:00","article_modified_time":"2021-10-10T15:25:06+00:00","og_image":[{"width":720,"height":724,"url":"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Bank dragged into Wasco boardroom squabbles","datePublished":"2021-10-10T14:54:23+00:00","dateModified":"2021-10-10T15:25:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles"},"wordCount":556,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg","keywords":["Africa Press","Africa Press-Lesotho","Bank","Lesotho","squabbles"],"articleSection":["all news","economy","homepage-english","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles","url":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles","name":"Bank dragged into Wasco boardroom squabbles - Lesotho","isPartOf":{"@id":"https:\/\/www.africa-press.net\/lesotho\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg","datePublished":"2021-10-10T14:54:23+00:00","dateModified":"2021-10-10T15:25:06+00:00","author":{"@id":"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The ongoing conflict between the Water and Sewage Company (WASCO) CEO, Futho Hoohlo, and the WASCO Board of Directors ha ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#primaryimage","url":"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg","contentUrl":"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-616305b43c113.jpg","width":720,"height":724,"caption":"Bank dragged into Wasco boardroom squabbles"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bank-dragged-into-wasco-boardroom-squabbles#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/lesotho\/"},{"@type":"ListItem","position":2,"name":"Bank dragged into Wasco boardroom squabbles"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/lesotho\/#website","url":"https:\/\/www.africa-press.net\/lesotho\/","name":"Lesotho","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/lesotho\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/posts\/4268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/comments?post=4268"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/posts\/4268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/media\/4267"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/media?parent=4268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/categories?post=4268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/lesotho\/wp-json\/wp\/v2\/tags?post=4268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}