Lekau Sehoana is the founder of the most successful footwear in South Africa "Drip. Lekau is living his dream trying to inspire and empower young people. Lekau Sehoana, 32, moved from having no shoes to wear to building a sneaker brand called Drip Footwear. Lekau started back in 2003 by only redesigning old sneakers by adding denim cloth and some polyurethane fabric to them.
But it looks like the Drip Footwear owner is in deep trouble following allegations that he didn't pay the loan he took when he wanted to start off his brand. Lekau apparently took a R45k loan from a business man by the name Alfred Mashiya.
Alfred Mashiya has dragged footwear architect Freddy Lekau and company Drip Footwear to the Joburg high demanding 34% of the company's shares to be transferred to him. In his founding affidavit which we have seen Mashiya said he met Lekau in November 2018 at Menlyn in Tshwane where they entered into a contract of investment to loan him and the company R45 700 to pay for 200 pairs of sneakers.
Mashiya said Lekau defaulted from paying R100 from the first 5000 pairs of sneakers sold and therefore he was entitled to the shares as stipulated in the contract. "In the light of the breach as per the contract, I'm entitled to 34% of Drip Footwear company shares calculated from the 1st of August 2020. Being the day of the breach until the fourth day of September 2020."
In responding affidavit Lekau confirmed that he indeed borrowed the funds from Mashiya when he was experiencing cash flow problems.
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