Close X
Wednesday, November 13, 2024
ADVT 
International

South African President's Son Resigns From Gupta-Run Company

Darpan News Desk IANS, 09 Apr, 2016 11:33 AM
    South African President Jacob Zuma's son Duduzane Zuma has resigned as the non-executive director of Oakbay Resources and Energy owned by the Indian Gupta family, a statement said on Saturday.
     
    Duduzane said he quit Oakbay in order to "de-politicise" his participation in business and to preserve jobs, Xinhua cited the statement as saying.
     
    This came after aspersions were "cast on me and my family", Duduzane said in the statement.
     
    The Gupta family, which reportedly has close ties with President Zuma, his family and the ruling African National Congress (ANC), has been under fire for exerting undue influence on the South African government by offering cabinet posts to ANC officials. 
     
    The family has denied the accusation, saying they had fallen victims to the political struggle in the country.
     
    As the scandal was unfolding, a number of South African financial companies, including First National Bank (FNB), Barclays Africa, KPMG and Sasfin, have closed the accounts of Oakbay Investments, the holding company for the Gupta family's businesses.
     
    In a related development, Atul Gupta and Varun Gupta, senior members of the family, also announced their resignations, respectively as non-executive chairman and chief executive officer at the Oakbay company.
     
    "This decision follows a sustained political attack on the company, and the concern that the jobs and livelihoods of nearly one thousand employees would be at immediate risk as a result of the outgoing director's association with the company," Oakbay Resources said in a statement.
     
    Representatives from Oakbay have contacted Zuma and three cabinet ministers over the closure of its bank account.
     
    The South African government has been silent on the report.

    MORE International ARTICLES

    Jirga In Pakistan Settles Rape Case For 30 Mounds Of Wheat

    Jirga In Pakistan Settles Rape Case For 30 Mounds Of Wheat
    A case was registered with the local police in Ghulam Nabi Shah area of Umerkot district a few days ago on the complaint of the 14-year-old victim's brother, Sajan Shaikh.

    Jirga In Pakistan Settles Rape Case For 30 Mounds Of Wheat

    Sponsors Of Brussels Killers Suffer Crushing Defeat: Why Is West Silent?

    Sponsors Of Brussels Killers Suffer Crushing Defeat: Why Is West Silent?
    The biggest military defeat that ISIS has suffered in more than two years - the recapture of the Roman city of Empress Zenobia, and we are silent. Yes, folks, the bad guys won, didn’t they? Otherwise, we would all be celebrating, wouldn’t we?

    Sponsors Of Brussels Killers Suffer Crushing Defeat: Why Is West Silent?

    At Dinner With Obama, Modi Warns About State Actors Abetting Terrorists

    At Dinner With Obama, Modi Warns About State Actors Abetting Terrorists
    Prime Minister Narendra Modi warned global leaders from over 50 nations gathered here to discuss nuclear terrorism that state actors working with nuclear traffickers and terrorists present the greatest risk.

    At Dinner With Obama, Modi Warns About State Actors Abetting Terrorists

    Yoga College Opens In China, Attracts Thousands

    Yoga College Opens In China, Attracts Thousands
    The college figured in one of 24 agreements reached during Indian Prime Minister Narendra Modi's visit to China in May last year. 

    Yoga College Opens In China, Attracts Thousands

    Justin Trudeau In Washington: Speech, White House Meeting Today On Nuke Safety

    Justin Trudeau In Washington: Speech, White House Meeting Today On Nuke Safety
    He's touting his middle-class tax cuts and plans to boost infrastructure spending, in a speech across the street from the White House.

    Justin Trudeau In Washington: Speech, White House Meeting Today On Nuke Safety

    Teen Girl Pepper-sprayed As Donald Trump Protesters, Supporters Clash

    Teen Girl Pepper-sprayed As Donald Trump Protesters, Supporters Clash
    Police are looking for a man who pepper-sprayed a 15-year-old girl as opponents and supporters of Republican presidential front-runner Donald Trump clashed outside a Wisconsin rally.

    Teen Girl Pepper-sprayed As Donald Trump Protesters, Supporters Clash