Fin24 Daybreaker | Absa does a Gupta on Iqbal Survé, cuts all ties

SARS recruitment drive a sign of rebuilding efforts - tax experts

View Online Daybreaker A snapshot of the day's business and economic news. AHMED AREFF, FIN24 DEPUTY EDITOR Absa does a Gupta on Iqbal Survé, cuts all ties 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.  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." Read More SARS recruitment drive a sign of rebuilding efforts - tax experts SARS has advertised 370 jobs and tax experts see this as an effort to rebuild capacity hollowed out under the previous administration. 'Loyalty to one bank is gone' - TymeBank CEO as it reaches 3 million customers As TymeBank reports that it is signing up as many as 5 000 new customers a day, its CEO says people are increasingly choosing to have accounts with more than one bank. AG's report notes Mboweni's provincial skippers slowly battling a sea of irregularities The Auditor General's report suggests Finance Minister Tito Mboweni is not a lone voice in the wilderness when it comes to fiscal responsibility, but says intervention is vital to improving the situation. Halfway there as Eskom finally switches on Kusile's Unit 3 This week Kusile's Unit 3 achieved commercial operation, following cost overruns and delays since it was commissioned in the early 2000s. New acquisitions bolster Barloworld as it plots its logistics and car retail exit Barloworld is in the process of exiting its motor retail and logistics businesses after being battered by Covid-19. 'Technical knockout' sees former SAA CEO lose R100k bet on airline's profitability Former SAA CEO Vuyani Jarana has made good on a bet he made three years ago with the president of the Free Market Foundation about the airline's future profitability. DOWNLOAD THE NEWS24 APP CONNECT WITH US

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