SBSA Refusal to Clear and Release Funds

Dear Mr. Sim Shabalala, CEO of Standard Bank.

1. This is a further escalation, in a public platform, that follows many internal escalations within SBSA. If you check your e-mails for December 2021, you will find one such escalation, directly to yourself, that is if it was never brought to your attention by your staff.

2. I am also in the process of escalating this to the banking ombudsman and the banking regulator.

3. In summary, this escalation relates to the delayed release, and clearing of project funds that were paid into Hlubi Royal House Holdings (Pty) Ltd bank account number *** by an international project funder. and investor.

4. SBSA has refused to release and clear the funds, which will enable the funded community development projects to commence.

5. In frustration, I have contacted many SBSA employees, management, executives, board members, shareholders and the regulator, hoping that someone will help me gain an understanding of the causes of the 6+ months delays in releasing and clearing of the project funds. To that end, I was advised to enquire through the customer facing channels of SBSA.

6. I am not winning with my Enterprise Banker, Mr. Hugo Wan Der Wath in Centurion.

7. SBSA has sent me from Pillar to post, asking for all manner of supporting documentation to satisfy themselves that the international project funding is authentic.

8. After submitting all the requested documentation to prove that the funding is authentic, On the 1st October 2021, I received a written confirmation from my Enterprise Banker, Mr. Hugo Wan Der Wath confirming that all documents had been received by SBSA, some directly from the project funder. Still, to date, SBSA refuses to release and clear the project funds.

9. South Africa has an endemic poverty, unemployment, and rural underdevelopment problem. You do not need me to remind you that we have the highest youth unemployment rate problem in the world.

10. In the circumstances, I fail to understand why a large commercial bank like SBSA would actively frustrate efforts, by Amahlubi, to embark on community development, and social upliftment projects,. SBSA is deliberately and maliciously refusing to release and clear internationally sourced project funds. This they do after refusing to grant us with their own local funding for our projects.

11. Mr. Shabalala, I kindly request your personal intervention in this matter. a resolution is long overdue after the 1st October 2021 confirmation, by the Relationship Manager, that all the supporting documents have been received by SBSA.

12. For further information kindly contact me directly on *** and *** or ***

Sincerely,

(PS) HRH BTB Mthimkhulu III King of the Amahlubi Kingdom Hlubi Royal House Holdings (Pty) Ltd *** ***