COMPANY NEWS IN BRIEF
Nedbank to reopen Sekunjalo accounts
Nedbank has said it will continue to offer banking services to businessman Iqbal Survé's Sekunjalo Group following an Equality Court ruling.
Last week the court granted Survé, Sekunjalo and its subsidiaries an interim interdict ordering Nedbank to reopen the bank accounts it had shut, and to refrain from closing others.
"Temporary interdicts are a common procedural remedy pending a full examination of the parties' rights and all relevant facts in due course. No permanent finding has been made at this stage."
Nedbank started to shut the accounts of companies in the Sekunjalo stable in April 2021, citing reputational harm following the publication of the Mpati Commission of Inquiry report.
The report found that the "close relationship" between the Public Investment Corporation's former CEO, Dr Dan Matjila, and Survé created "top-down pressures" on staff members. It also found that the asset manager's investments in companies in the Sekunjalo stable showed a "marked disregard" for standard operating procedures. -Fin24
Nedbank has said it will continue to offer banking services to businessman Iqbal Survé's Sekunjalo Group following an Equality Court ruling.
Last week the court granted Survé, Sekunjalo and its subsidiaries an interim interdict ordering Nedbank to reopen the bank accounts it had shut, and to refrain from closing others.
"Temporary interdicts are a common procedural remedy pending a full examination of the parties' rights and all relevant facts in due course. No permanent finding has been made at this stage."
Nedbank started to shut the accounts of companies in the Sekunjalo stable in April 2021, citing reputational harm following the publication of the Mpati Commission of Inquiry report.
The report found that the "close relationship" between the Public Investment Corporation's former CEO, Dr Dan Matjila, and Survé created "top-down pressures" on staff members. It also found that the asset manager's investments in companies in the Sekunjalo stable showed a "marked disregard" for standard operating procedures. -Fin24
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