Maseru, Aug.11—Enrich Holdings Limited, a local company owned by Basotho in the country, is being sued by Moosa Group of Companies for non-payment of rent amounting to M588,595.71.
The company is in this matter sued together with Maine Maine who is Chief Executive Officer (CEO), also co-founder of the company and Refuoe Monaheng one of the shareholders in the company.
According to the papers filed before the Commercial Court, Enrich which is renting a commercial property at Mafafa Building belonging to the plaintiff, entered into a three year contract with the plaintiff starting from January 01st 2020 to December 30 2022.
It is stated that an agreement was that a monthly instalment would be M126,500.00 and would escalate at the rate of 8 percent annually. It is indicated that currently the monthly rental is M180,090.00.
It is in the papers further stated that the defendants breached the agreement by failing to comply with their obligation to make the monthly payments towards rent.
Enrich Holdings has recently been making news following infighting and failure to operate its business efficiently to the expectation of its shareholders and the rest of the nation as it is one of the only Basotho owned companies in the country.