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Gallo Images Absa has cut all ties with companies directly or indirectly controlled by Iqbal Survé s Sekunjalo Investment Holdings. The bank says keeping Sekunjalo companies as clients presents intolerable reputational, commercial, and legal risks . The decision was kept secret for seven months – until a chance remark in Parliament two weeks ago. Everything media mogul Iqbal Survé touches is anathema to one of South Africa s big four banks – the same bank that led the charge in cutting off the Gupta family from the banking system in 2016. AmaBhungane has established that on 27 August last year, Absa sent letters to every client directly or indirectly controlled by Survé s Sekunjalo Investment Holdings, giving 60 days notice of termination of services. 

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