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QBO was quick to let me know the problem lies with Nedbank.
Getting hold of a competent person at Nedbank was not easy, bottom line Nedbank is aware of the fault on their system and working on it.
Every time you try to follow up the call center will have no idea what you are talkin about and urge you to re-enter your login details but if you persist and get hold of a senoir person they tell you the same story - they know their system is not allowing QBO to connect, they do not know why and is working on it.
They should let all their clients know but instead try to keep it under wrap.