Nedbank had two meetings with ANC officials

The risks surged when the bank learned that audit and advisory firm KPMG and sponsoring broker Sasfin had terminated their relationships with Gupta companies.

“We thought there must have been a reason for this to happen… They would have had access to more information than we had at that stage‚” said Brown.

The commission‚ chaired by Deputy Chief Justice Raymond Zondo‚ is looking into whether officials in cabinet and government illegally or corruptly intervened in the closure of bank accounts belonging to Gupta companies.

Brown said after the bank realised the risks posed by keeping Gupta accounts open‚ it formed a sub-committee made up of various divisional heads.

The committee met and decided to terminate its relationship with Gupta businesses on April 7 2016. These bank accounts included‚ among others‚ Oakbay Investments and Sahara Computers.

Brown testified that the meeting at Luthuli House was attended by then secretary general Gwede Mantashe and his deputy Jessie Duarte. He said there was no agenda sent ahead of the meeting. The meeting was facilitated by Enoch Godongwana and took place on April 20 2016.

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