Absa does a Gupta on Iqbal Survé, cuts all ties

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Chairperson of media group Independent Media and the head of Sekunjalo, Iqbal Survé. (Photo by Gallo Images/Phill Magakoe)
Chairperson of media group Independent Media and the head of Sekunjalo, Iqbal Survé. (Photo by Gallo Images/Phill Magakoe)
Gallo Images

The story: Absa has cut all ties with companies directly or indirectly controlled by Iqbal Survé's Sekunjalo Investment Holdings.

How we know: 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.

What was said: "The Sekunjalo Group and Dr Survé have for at least the past two years been the subject of serious allegations of disreputable and unlawful conduct that featured extensively in the public domain," said Absa general counsel Marthinus Janse van Rensburg.

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