Sekunjalo Group condemns News24 headline as 'materially misleading' over SCA finding
Sekunjalo has asked News24 to correct and apologise for a headline it says wrongly linked the group to an SCA finding about a “fishing expedition”.
The Sekunjalo Group has vehemently denounced a News24 headline concerning a recent Supreme Court of Appeal (SCA) ruling, deeming it materially misleading for attributing the Group to a "fishing expedition" finding. This dispute arose from a September 23, 2026, article titled: "Court strikes down ‘fishing expedition’ in wider Sekunjalo bank fight".
In response, Sekunjalo Group CEO Lucien Jacobs clarified that the SCA case, Financial Intelligence Centre and Others v Ndudane and Others, did not involve Sekunjalo as a party. The SCA ruling specifically addressed the respondents, not Sekunjalo, regarding their application for confidential information. Jacobs emphasized that the Court did not find Sekunjalo engaged in a "fishing expedition".
The Sekunjalo Group objected to News24's use of their name and a photograph of Dr Iqbal Survé, as it could mislead readers. They noted that Dr Survé, who once managed the Group, is no longer involved. Sekunjalo further clarified that all banking issues had been resolved, and there are no ongoing legal matters related to the Bank's current operations.
The Group affirmed its full banking capabilities and continued normal operations. Sekunjalo urged News24 to correct the headline and apologize for the misrepresentation.
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