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Businessman Iqbal Survé and Deputy Finance Minister David Masondo both gave evidence before Parliament s finance oversight committee on Wednesday.
Survé, the executive chair of Sekunjalo Investment Holdings, alleged that companies in the Sekunjalo stable were being targeted by a hidden hand .
Masondo said Survé must provide facts to back up his claims of a massive conspiracy.
Deputy Finance Minister David Masondo has asked businessman Iqbal Survé to back up his allegations of a grand conspiracy against his companies. I think it would be important for Doctor Survé to present facts, and we deal with facts, said Masondo. I am just worried about making allegations and statements without saying here are the facts.
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 2020 Absa sent letters to every client directly or indirectly controlled by Survé’s Sekunjalo Investment Holdings, giving 60 days’ notice of termination of services.
In subsequent court proceedings late last year, Absa general counsel Marthinus Janse van Rensburg insisted that “[Absa’s] continued association with customers in the Sekunjalo Group posed intolerable reputational, commercial and legal risks.”
The companies cut off from their banking facilities include Survé’s main JSE-listed vehicle, African Equity Empowerment Investments (AEEI), its separately listed subsidiaries AYO Technology Solutions and Premier Fishing & Brands, and all subsidiaries of the three companies. Sekunjalo-controlled Independent Media appears una
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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.
Absa does a Gupta on Iqbal Surve, cuts all ties oklahomacitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oklahomacitysun.com Daily Mail and Mail on Sunday newspapers.