About 7 500 employees at Oakbay Investments will lose their jobs at the end of May if the Gupta-owned company’s bank accounts remain closed, staff at the company wrote in an open letter
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The Guptas and Duduzane Zuma resigned from Oakbay Investments and Oakbay Resources and Energy on Friday to facilitate the sale of the Optimum coal mine from Glencore to Oakbay, the Democratic Alliance claimed. Their resignation “is an insult
Gupta-owned company Oakbay Investments made contact with President Jacob Zuma and cabinet ministers to express its “deep disappointment” at banks closing its accounts, it was revealed in a leaked letter to staff on
Absa has warned its clients of downtime across its electronic channels this weekend as it upgrades its systems to “improve infrastructure stability”. The systems are expected to go offline at 10pm on Saturday evening and return to service
First National Bank has closed the accounts of Gupta family-controlled Oakbay Investments, prompting Oakbay to demand an explanation from FNB CEO Jacques Celliers. FNB’s decision
South Africa’s big four retail banks have been steadily cutting the number of (costly) branches in recent years. That’s no surprise, given the shift in transactional banking to electronic channels. Those transactions that still need some form of physical
While there’s been an outsize (and bizarre) outcry about First National Bank’s decision to close somewhere between 25 and 40 branches in a round of “optimisation”, the country’s big four retail banks have been steadily cutting the number of branches for years
A recent spate of Sim-swap fraud cases saw First National Bank and MTN South Africa portrayed as the least trustworthy companies in their respective industries. Dozens of people have fallen victim to the Sim-swap scam, having hundreds of thousands of rand
Banking group Absa has piloted a new predictive alert service that notifies customers of potential shortfalls in their bank accounts and offers personalised options to help them manage their finances. The idea is that the alerts
Absa has partnered with MTN to allow subscribers to the telecommunications network operator to have zero-rated data access to the banking group’s Internet banking facilities. MTN clients will get zero-rated (free) access via Absa’s smartphone banking