Swiss bank is no SA boost

Business Day - - OPINION -

In what way is the lo­cal of­fice of a Swiss pri­vate bank a boost for SA (Boost for SA as sec­ond Swiss bank plans lo­cal of­fice, Novem­ber 8)?

Con­trary to the bank’s bla­tant mar­ket­ing, which your ar­ti­cle par­rots, this au­gust Swiss pri­vate bank is set­ting up here for the sole pur­pose of help­ing ul­tra­rich South Africans move their as­sets off­shore.

While this is per­fectly le­gal and ra­tio­nal, in what pos­si­ble way is it a vote of con­fi­dence in the pres­i­dent or the fu­ture of SA?

Thomas Olver Via e-mail

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