Why did it take Absa Bank Limited 15 months, or 312 days, to close the Guptas’ bank accounts?
6 March 2017
Today, I wrote to Maria Ramos, Chief Executive of Barclays Africa Group Limited, requesting a reasonable explanation for why it took Absa Bank Limited (“Absa”) 15 months, or a full 312 working days, to close the Guptas’ bank accounts in South Africa.
An affidavit, submitted by Yasmin Masithela on behalf of Absa, in the Minister of Finance versus Oakbay Investments (Pty) Ltd case, which is before the High Court of South Africa, Gauteng Division [Case No. 80978/16], reveals that it took the bank:
- 13 months, that is a full 272 working days, from the time the decision was taken to terminate the banker-client relationship with the Guptas’ (18 November 2014) to the notice of termination of the banker-client relationship with the Guptas’ (18 December 2015); and
- 15 months, that is a full 312 working days, from the time the decision was taken to terminate the banker-client relationship with the Guptas’ (18 November 2014) to the termination of the banker-client relationship with the Guptas’ (16 February 2016).