Gupta family business


Bongi Ngema-Zuma, one of President Zuma's wives, worked for the Gupta-controlled JIC Mining Services Aug 11, 2017 The family add that they would welcome a full investigation and that only 8. The EFF criticised the deal by stating that it was a form of fronting to disguise South Africa's President Jacob Zuma has been accused of allowing members of the Indian-born Gupta family to wield undue influence, with a deputy finance It is said that when Atul arrived in what was then Africa's largest economy and he set up the family business Sahara Computers, he was amazed at the lack of red Aug 8, 2017 As President Jacob Zuma faced a further vote of no-confidence, his close association with the Gupta business family came under renewed spotlight after thousands of emails were released. 9 per cent of their group's revenue comes from state contracts directly. ” Mr Jonas and Pravin Gordhan, the finance minister, who had blocked government deals with companies linked to the Guptas, were sacked by Mr Zuma in March. BBC Africa Business Report editor Matthew Davies looks at whether the family's business can survive. The bank said it had also flagged up its worries to the financial crime expert who has overseen its money-laundering Sep 19, 2017 Lewis also said he would be bringing bribery and corruption charges against McKinsey with the US justice department, over the firm's alleged business dealings with the Guptas. South Africa was years behind the West in putting a computer on every desk—particularly the kind of cheap, reliable machines that new The businesses owned by Atul Gupta and his family are held by an investment company called Oakbay Investments. US investigators have in recent months Aug 27, 2017 The crumbling Gupta empire parted with assets valued at more than R3bn to little-known business entities. Separate reports by the graft ombudsman in November, and the The sale was vendor financed which entailed the lending of R450 million in shares to the Manyi owned Lodidox by the Gupta owned Oakbay so that the business sale could take place. Sep 19, 2017 The ongoing probe is also being fueled by emails leaked to local media between Gupta family members and top officials in Zuma's party, the African National Congress. The embattled Gupta family, who Sep 23, 2017 “Mr A Gupta further indicated that the National Treasury was a stumbling block to the family's business ambitions. They have been accused of Sep 23, 2017 “Mr A Gupta further indicated that the National Treasury was a stumbling block to the family's Oct 19, 2017 South African opposition groups, campaigners and investigators accuse them of using their friendship with President Jacob Zuma, and business partnership with his son, to make millions of dollars from state contracts. Today, the Gupta family's businesses in South Africa include coal mines, computers, newspapers and a news channel. In a rare interview Atul Gupta told the BBC that white-owned “monopoly capital do not want us to do business in the country” and promote attacks on the family. The three brothers Atul, Ajay and Rajesh Gupta are businessmen operating in South Africa with The businesses owned by Atul Gupta and his family are held by an investment company called Oakbay Investments. Currently our portfolio companies in South Africa have approximately 8 300 people who are economically dependant on direct and indirect employment Jul 14, 2017 But lobbing insults about “white monopoly capitalism” has backfired horribly for South Africa's notorious Gupta family, who are plumbing new depths in countrywide notoriety. A subsequent leak of emails Oakbay Investments (Pty) is the holding company for the Gupta family's businesses in South Africa. South Africa was years behind the West in putting a computer on every desk—particularly the kind of cheap, reliable machines that new Aug 20, 2017 Atul started the family's first business in South Africa, Sahara Computers, in 1993. Nov 10, 2017 HSBC has revealed that it closed accounts linked to South Africa's Gupta family corruption investigation, admitting for the first time concerns about its potential ties to the snowballing scandal. After a stint selling shoes, Atul saw an opening in the PC business. It is hard to believe the family could amass such influence in the relatively short time since brothers Ajay and Atul first arrived, Jul 28, 2017 Singh, the Gupta family and Zuma have denied any wrongdoing. Oct 19, 2017 The FBI has opened an investigation into US links to South Africa's Gupta family, escalating a political scandal over the three brothers' alleged use of their friendship with President Jacob Zuma to control state business, according to people familiar with the matter. Oakbay Investments have invested more than R10 billion in the country. Oakbay Investments have invested more than R10 billion in the . Jul 20, 2017 Bell Pottinger was accused of exploiting racial divisions to deflect attention from a business family's troubles. financial regulator to review possible business with South Africa's Gupta family, becoming the latest firms to be hit by the fallout from a corruption scandal in Africa's most developed economy. Photographer: Siphiwe Sibeko/Reuters. My enquiry to one of the senior executives as to the reason for Aug 7, 2017 A South African business empire built up by members of the Gupta family is under pressure as they face a mounting backlash over allegations that they exploited their friendship with President Jacob Zuma to loot billions of rand from the state. K. “Like all South Africans, I am very worried about them and I think we need to establish fact from allegation,” Gigaba told the Cape Talk radio station when asked about a slew of leaked emails that have detailed the Gupta family's business Sep 22, 2017 “The investigation will determine if there is any evidence to suggest KPMG South Africa partners or staff were complicit in illegal activities by the Gupta family and their businesses,” KPMG International Chairman John Veihmeyer said in a statement. Founded in 2006, the firm has managed to significantly disrupt the South African market, enjoying great success, and making invaluable contributions to the growth and development of the country by creating Aug 20, 2017 Atul started the family's first business in South Africa, Sahara Computers, in 1993. Oct 9, 2017 The reputations of major international firms Bell Pottinger and KPMG have been badly damaged by their work relating to the controversial Gupta family in South Africa. A subsequent leak of emails . Sep 15, 2017 KPMG has cleared out the management of its South Africa division, after the firm was implicated in the growing scandal surrounding businesses linked to the controversial billionaire Gupta family. Founded in 2006, the firm has managed to significantly disrupt the South African market, enjoying great success, and making invaluable contributions to the growth and development of the country by creating Nov 8, 2017 The headquarters of the Gupta family's computer business. Sep 23, 2017 “Mr A Gupta further indicated that the National Treasury was a stumbling block to the family's business ambitions. Jul 30, 2017 All major newspapers in the country have been going big and relentlessly on the alleged shady business relationship the Gupta brothers have with some high-ranking Cabinet ministers and some well-connected officials at state-owned entities. "Neither the Gupta family nor any company publicly linked to the Guptas has ever been a client of McKinsey‚" she said. Aug 27, 2017 The crumbling Gupta empire parted with assets valued at more than R3bn to little-known business entities. The president's son, Duduzane Zuma, who began working for the Guptas in 2003, has numerous business links to the family, including a stake in the Gupta-controlled Tegeta Oct 31, 2017 The President of the Dubai Chamber of Commerce and Industry says the allegations into the Gupta family's business dealings are being discussed at the highest level. Who are the Gupta family?Nov 8, 2017 The headquarters of the Gupta family's computer business. ” Mr Jonas and Pravin Gordhan, the finance minister, who had blocked government deals with companies linked to the Guptas, were sacked by Mr Zuma in March. The investigation will also look into whether there were Oct 19, 2017 HSBC Holdings PLC and Standard Chartered PLC have been asked by the U. The emails appear to demonstrate the close business and personal relationship that exists between the Guptas and the government. The sale was vendor financed which entailed the lending of R450 million in shares to the Manyi owned Lodidox by the Gupta owned Oakbay so that the business sale could take place. Hain asked the authorities to investigate Zuma, 10 of his family members, 11 Gupta family May 15, 2017 The Zumas, for their part, stand accused not only of enabling the rise of the Gupta family but also indulging in its success. In a rare interview Atul Gupta told the BBC that white-owned “monopoly capital do not want us to do business in the country” and promote attacks on the family