Public pressure is a hell of a thing – just ask the likes of Penny Sparrow – and it seems the toll has become too much for the Guptas to bear.

This afternoon saw the Guptas, and President Jacob Zuma’s son Duduzane Zuma, announce that they had resigned from Oakbay Investments.

Ajay, Atul, Chetali, Rajesh, Arti and Varun were all involved in the day to day running of the business which they own, although all the public pressure has caused a change of heart.

Here’s Fin24 with why they resigned:

The decision to resign with immediate effect “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 announced.

“It is with deep regret and a heavy heart, that following a period of sustained political attack on our family and our businesses, we took the decision yesterday to resign all executive and non-executive positions held in Oakbay Investments, by Gupta family members,” the Guptas said in a statement.”

They then decided to take the moral high ground:

“We find it totally unacceptable that several thousand direct employees and tens of thousands of their dependants will have to suffer as a result of the campaign against Oakbay and the Gupta family.

“By stepping down from all executive and non-executive positions and any involvement in the business, we hope to save the livelihoods of tens of thousands of people in our great rainbow nation.”

The Guptas asked the establishment “that holds the livelihoods of tens of thousands in its hands: Can you do the right thing now that we have stepped aside?”.

Duduzane Zuma said in a separate statement that he felt victimised:

“My history and background is no different from that of all previously disadvantaged black people.

“The economy is necessarily skewed against us, which is the very basis of the struggle for political and economic emancipation.

“It is beyond dispute that our political miracle did not usher in an economic miracle for our people, hence the grinding poverty, unemployment and persisting inequality.”

“Poverty in South Africa carries a black face and I didn’t invent that,” Zuma said.

“Notwithstanding my efforts to participate meaningfully in the economy, aspersions were cast on me and my family.

“As a result therefore, I have decided to relinquish all positions that I hold at Oakbay companies and am exiting investments to preserve the jobs of Oakbay’s thousands of employees and to de-politicise my participation in business.

Yoh, it’s tough when your father is the president hey?

With FNB and KPMG cutting business ties with the Guptas over the past few weeks the pressure has really been cranked up. Tighten those screws big business, let’s escort those seeking undue political influence right out of the country.

[source:fin24]