But local bank Firstrand/Rand Merchant Bank has been lending to Wiese taking Shoprite shares as collateral. In an interview conducted with CNBC Africa's Fifi Peters on Monday December 11, RMB CEO Alan Pullinger confirmed that the bank has three types of exposure to Steinhoff. Firstly, to Steinhoff and group companies to provide working capital type facilities. Secondly, through facilities to Steinhoff Africa Holdings, which are "very well covered." And thirdly, the bank has exposure to the Chairman (Wiese) through his investment company, and, crucially, states Pullinger, "there we are very well covered with Shoprite shares."