Speaking as if they are the South African government, Nazeem Howa, chief executive of Oakbay Investments, has stated that the Guptas are committed to South Africa.

Unfortunately, we’re not committed to them in the same light, rather one that wishes them prosecuted for their ill doings. The Financial Times’ Andrew England reported on what Howa had to say ahead of potential investments the Guptas are looking to make.

Do they not know coal is so last year?

The family business at the heart of a political storm in South Africa insists that it remains committed to the country and says it is investing R2.15bn ($146.3m) to complete the acquisition of a coal mine.

Oakbay Investments, the group controlled by the controversial Gupta family, has come under intense scrutiny amid allegations that it has enjoyed favourable access to government contracts and sought to influence political appointments.

Nazeem Howa, chief executive of the group, told the Financial Times that it planned to complete the purchase this week of a coal mine owned by Glencore, the Swiss miner and commodity trader, despite threats by some of the country’s banks to cut ties with Oakbay. Mr Howa insisted that the deal was an indication of the group’s commitment to South Africa and dismissed speculation that the Guptas had fled the country.

The outcry against the family, which runs a multibillion-rand business empire in South Africa, reached a peak when Mcebisi Jonas, South Africa’s deputy finance minister, claimed last month that he had been offered the Treasury’s top job by members of the family, which is close to President Jacob Zuma.

Read the rest of the article over HERE.

[source: ft]