The Sekunjalo Group has strongly objected to a News24 headline published on September 23, 2026, which it claims wrongly associates the group with a Supreme Court of Appeal (SCA) finding about a "fishing expedition". According to Sekunjalo, the headline conflates two separate legal matters and incorrectly implies that the group was responsible for the conduct described by the Court.
The SCA judgment in question, Financial Intelligence Centre and Others v Ndudane and Others, did not include Sekunjalo as a party to the appeal. The parties involved were the Financial Intelligence Centre (FIC), with Nedbank and ABSA as intervening parties, and several respondents. Sekunjalo Group CEO Lucien Jacobs stated that the finding regarding a "fishing expedition" related specifically to the respondents' attempt to obtain information, not Sekunjalo's.
The respondents had previously intervened in broader Equality Court proceedings involving Sekunjalo and had sought access to confidential information relating to the group. However, the SCA judgment records that these respondents failed to establish a legal interest in obtaining documents concerning Sekunjalo's affairs. The Court then considered their broad request for information and found that this constituted a "fishing expedition".
Jacobs emphasised that there is a "fundamental difference" between reporting that a case arose within the broader context of litigation involving Sekunjalo and reporting it in a way that links Sekunjalo to a judicial finding of a "fishing expedition". Sekunjalo has formally approached News24 seeking a correction and apology for the headline.
The Sekunjalo Group further objected to News24's use of the Sekunjalo name and a photograph of Dr Iqbal Survé in connection with this reporting. The group clarified that Dr Survé has retired from active management and is no longer involved in the day-to-day operations of the Group.
Sekunjalo also emphasised that all banking matters involving the group have been resolved. The group has full banking facilities across its businesses and continues to conduct its operations normally. There are no outstanding legal matters relating to the group's banking facilities.
The FIC matter referred to in the reporting has "nothing to do with the Sekunjalo Group's current banking facilities or current banking relationships". Sekunjalo stated that it has moved forward and remains focused on its businesses and future growth, with the "banking chapter" now closed.
Key points
- Sekunjalo Group was not a party to the SCA appeal.
- The "fishing expedition" finding related to respondents, not Sekunjalo.
- Sekunjalo has sought a correction and apology from News24.
