Guptas a step closer to solving their banking woes

The Guptas still need a bank. That’s the major reason.

Sikonathi Mantshantsha, Financial Mail

The Guptas are close to solving a major headache they have – being blacklisted by South Africa’s major banks.

This comes after the Competition Commission said it will permit the merger of Habib Overseas Bank and a company set up by Gupta allies Salim Aziz Essa and Hamza Farooqui.

John Maytham interviewed Financial Mail Deputy Editor Sikonathi Mantshantsha.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Let’s call it a ‘coincidence’ for now.

Sikonathi Mantshantsha, Financial Mail

They were fined R1 million by the Reserve Bank because their controls weren’t what they should have been.

Sikonathi Mantshantsha, Financial Mail

Maybe the reward is worth the risk; who knows?

Sikonathi Mantshantsha, Financial Mail

Pravin Gordhan cannot overrule the Reserve Bank.

Sikonathi Mantshantsha, Financial Mail

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