STANDARD Bank cannot reasonably expect the public to believe that its decision to shut accounts of Sekunjalo Group-related companies, including Independent Media, is out of a genuine concern when it has hardly – if at all – produced evidence justifying this unjust move.
Independent Media, the largest newspaper firm in South Africa, publishes the Cape Times, The Mercury, The Star, Pretoria News, Daily News, Sunday Tribune, Weekend Argus and the Cape Argus. Let’s highlight the impact this calamitous decision is likely to have, not only on this country’s media freedom, but on the employees whose livelihoods are at stake.
Standard Bank first cited “reputation risk” as the reason for wanting to shut the accounts of these companies, but has now raised concerns around the Financial Intelligence Centre Act.
Before this,…