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Money from Gupta businesses sale will go to youth development – Duduzane

2017-09-12 13:46

President Jacob Zuma’s son Dududzane Zuma says he will donate all the money he gets from the sale of ANN7 and New Age to a youth development programme to create jobs.

Zuma Junior and his business partners, the controversial Gupta family, have been selling off their stakes in the family’s Oakbay group of companies in a bid to protect them from been tainted by allegations of corruption.

The state capture corruption allegations gained momentum following former Public Protector Thuli Madonsela’s investigative report last October, as well as the recent leaked emails detailing accounts of how the Guptas and Zuma Jnr used their political influence to control ministers and public officials in order to enrich themselves.

Madonsela had recommended a judicial commission of inquiry into state capture, however, Zuma is taking the report for a review later in October because he wants to appoint the judge that will chair the inquiry and determine its terms of reference.

Last month Oakbay announced the sale of television station ANN7 and newspaper The New Age to a company owned by former government spokesperson and known Zuma defender Mzwanele Manyi.

Chief executive Ronica Ragavan said the two media businesses, Infinity Media and TNA were sold for a combined consideration of R450 million. Infinity Media operated the ANN7 News Channel and TNA Media published The New Age newspaper.

Zuma Jnr said in a statement on Tuesday: “I have decided that all [100%] of the money from the sale of the shares in the media businesses will go to a new youth development programme specifically focused on creating real and sustainable jobs”.

He said that “while this new programme has a specific interest in graduates, it will be for all young people, male and female, regardless of background”. “The young are the future, but they must be given a chance to succeed. This will need sacrifices from everybody in authority or with privilege.”

More details of the project would be made known in the coming weeks, he said.


Setumo Stone
Political journalist
City Press
p:+27 11 713 9001
w:www.citypress.co.za  e: setumo.stone@citypress.co.za
      
 
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November 19 2017