FNB, Absa close Bosasa bank accounts

2019-02-18 09:20
Former president Jacob Zuma with Bosasa CEO Gavin Watson. (Supplied)

Former president Jacob Zuma with Bosasa CEO Gavin Watson. (Supplied)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

First National Bank (FNB) and Absa have informed beleaguered facilities management group Bosasa that their bank accounts will be closed.

News24 has independently confirmed that FNB, the controversial group's long-time banker, is severing ties with the company led by CEO Gavin Watson.

Absa is also cutting ties with the group, as well as the family trust account of former chief operating officer Angelo Agrizzi.

Absa spokesperson Songezo Zibi told News24 that the bank does not comment on issues surrounding its clients.

READ MORE: Bosasa confirms its liquidation after banks pull out

FNB similarly declined to comment, citing client confidentiality.  

Agrizzi has turned against Watson and Bosasa, now trading as African Global Operations, and has testified about the company's alleged decade of state capture before the Zondo Commission. 

eNCA is reporting that the banks' decision has caused Bosasa to go into voluntary liquidation, meaning 4 500 employees will lose their jobs.

KEEP UPDATED on the latest news by subscribing to our FREE newsletter.

- FOLLOW News24 on Twitter

Read more on:    fnb  |  bosasa  |  absa  |  state capture  |  state capture inquiry
NEXT ON NEWS24X

Inside News24

 
/News
Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.