The Sekunjalo group has responded with outrage to a Supreme Court of Appeal (SCA) finding that will effectively allow Nedbank to close the accounts of the group. This comes after a full bench of South Africa’s second-highest court of appeal excoriated a finding made by the Equality Court.
The finding constitutes a huge legal setback for the Sekunjalo group and its 44 associate companies, which has been conducting a four-year legal campaign to prevent a host of SA’s top banks from closing its accounts. The group was initially successful in gaining an interim order against Nebank at the Equality Court preventing the bank from closing several accounts
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