DA spurns meeting request by Gupta owned Oakbay Investments

The Democratic Alliance (DA) on Monday rejected a request for meeting made by Oakbay Investments, which is owned by the controversial Gupta family.

The DA revealed in a statement that Oakbay Investments chief executive, Nazeem Howa, wrote to the party leader, Mmusi Maimane, last week Thursday requesting a meeting, but the opposition party “firmly rejected” the proposal.

Oakbay is at the centre of controversy with banks and auditors having terminated their contracts with the company for allegations of “State capture” by the Gupta family, the owners of the company.

“Unsurprisingly the purpose of the meeting would have been to request assistance in appealing to the banks to review their decision to terminate their business relationship with Oakbay Investments (Pty) Ltd,” said DA finance spokesperson David Maynier.

Minister in the Presidency Jeff Radebe last week said three Cabinet ministers would deployed to meet with the banks over their decision to close Oakbay’s accounts.


The DA also said it was “wrong” of the Minister of Finance Pravin Gordhan, the Minister of Labour Mildred Olifant, and the Minister of Mineral Resources Mosebenzi Zwane to be intervening on behalf of the Guptas in business decisions taken by the banks.

“The real question is not why the banks terminated their relationship with the Guptas, the real question is why the banks took so long to terminate their relationship with the Guptas,” said the DA. – African News Agency (ANA)

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