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

Recommended

by NEWSROOM AI
Read More
'Even if Sarb was nationalised, govt can't change its mandate'

'Even if Sarb was nationalised, govt can't change its mandate'

EFF leader Julius Malema has introduced a bill to nationalise the South African Reserve Bank (Sarb) in Parliament this week.

New radio telescope launched in SA to solve 'dark energy' puzzle

New radio telescope launched in SA to solve 'dark energy' puzzle

The multimillion-rand apparatus will be based at the site of the MeerKAT radio telescope array in the Northern Cape.

 DHET appoints a new NSFAS administrator

DHET appoints a new NSFAS administrator

Minister Naledi Pandor and DA's Belinda Bozzoli take a look at the new administrator's role in the student funding scheme.

John Maytham's Books: A stylish thriller and a man who moonlights as a superhero

John Maytham's Books: A stylish thriller and a man who moonlights as a superhero

John's 3 book picks for the week.

You will soon be able to book your learner and driving licence test online

You will soon be able to book your learner and driving licence test online

The online RTMC system has been created in a bid to put an end to corruption at licensing departments, among other reasons.

WC top cop has six months to tackle police shortages

WC top cop has six months to tackle police shortages

A report by the Public Service Commission found that 85% of police stations in the Western Cape are understaffed.

Popular articles
Signs your jealousy may be getting unhealthy

Signs your jealousy may be getting unhealthy

Managing jealousy has become increasingly important, particularly with the evolving structure of modern relationships says Dr Eve.

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Swartz says he would have done anything to get the R1 million prize money.

'There is no way Magnus Malan could've done the things he is accused of'

'There is no way Magnus Malan could've done the things he is accused of'

Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.

Zille won't stop fighting to have SANDF property released for affordable housing

Zille won't stop fighting to have SANDF property released for affordable housing

Zille says properties under the control of the state should be made available for local government's affordable housing plans.

'There is no verse in the Quran that says women should cover their faces'

'There is no verse in the Quran that says women should cover their faces'

Dr Taj Hargey says he is advocating for the ban of women wearing burkas in public because they look ridiculous.