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Ajay and Atul Gupta. Picture: Muntu Vilakazi
Workers at Oakbay Investments today appealed to banks to restore
relations with their company, saying their livelihoods were at stake.
Oakbay is scrambling to restore banking relationships after all
four major banks cut ties following allegations that its owners – the Gupta
family – have undue political influence with President Jacob Zuma.
“If by the end of May the accounts remain closed, Oakbay’s
businesses will close. That means that thousands of us will be without a job,”
their representatives said in an open letter to the financial
institutions.
Oakbay said it had 7500 employees.
At least one of the four banks that have ostracised Oakbay, which
houses the Gupta family’s businesses, has refused to entertain the company’s
attempt to patch up relations.
Barclays Africa’s Absa, First National Bank (part of FirstRand),
Standard Bank, Nedbank, investment bank Sasfin and the local unit of global
auditors KPMG cut their business ties earlier this month.
Zuma has acknowledged the Guptas are his friends but denies
anything improper.
The Guptas, whose wide range of business interests include media
and mining, have denied the allegations and said they were pawns in a plot to
oust Zuma.
The Guptas resigned from Oakbay earlier this month.
The African National Congress Youth League has picked up the fight for Oakbay and will hold “a consultative engagement” with employees, including New Age and ANN7 workers, tonight.
– Reuters
