sasboMoneyweb reports that the Finance Union Sasbo has come out in support of banks’ decision to terminate their relationships with Oakbay Investments and the Guptas.  

FNB and Absa were some of the financial institutions that have severed ties with Oakbay and its related companies.  Due to client confidentiality, no reasons were provided for the decisions at the time.  Sasbo general secretary Joe Kokela said in a statement that the union was “comfortable that the banks made the right decision without being influenced.”  Kokela also said the issue around the Oakbay Investment employees being unable to receive their salaries was not factual since Oakbay had banking accounts with an international bank operating in SA.

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