sekunjalo analysis
Iqbal Survé set-to exposes banks’ flanks
Taken together, the Equality Act, Competition Act and Financial Intelligence Centre Act could put banks in a conundrum when it comes to closing accounts, including those of the Sekunjalo Group
13 April 2023 - 05:00
Pity poor Access Bank (previously Bank of Athens). Two years after it opened an account for little-known Sekunjalo subsidiary AfriNat, it is still paying steep legal bills for closing the account just two months later.
Because of that ill-considered move, Access got swept up in Sekunjalo Group’s broad-ranging legal battle against almost all the banks in South Africa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.