Browsing: KPMG

News
Guptas’ Oakbay listing may be suspended

Oakbay Resources & Energy, the company controlled by the Gupta family, may have its listing suspended by the JSE, the latest setback to the business interests of the friends of South African

News
Gupta accounts face regulatory scrutiny

South African regulators are seeking details from India’s Bank of Baroda of accounts belonging to businesses owned by the Gupta family, intensifying scrutiny of the friends of President Jacob Zuma, according to a person close to the

News
SA now third biggest economy in Africa

South Africa has been known as the continent’s second-largest economy since Nigeria re-based its GDP data in early 2014. However, the IMF World Economic Outlook released in mid-April provided more sobering GDP statistics for South Africa

News
Ministers met banks over Guptas

Labour minister Mildred Oliphant conceded on Tuesday that a meeting between cabinet ministers and South Africa’s four banks had taken place. However, she didn’t want to provide further details as the ministers were still to report back to cabinet

News
Banks’ Gupta decision could deter investors: gov’t

Cabinet was concerned that the decision by the country’s big four banks to cut ties with the Gupta-owned Oakbay Investments would deter investors, planning minister Jeff Radebe said on Friday. “While cabinet appreciates the terms and conditions of

News
Radebe opens Gupta can of worms

Jeff Radebe, minister for planning, monitoring & evaluation, opened a can of worms on Thursday when he said three cabinet ministers held meetings with South Africa’s four big banks to get reasons why they decided to close the bank account of the

In-depth
Why did the Guptas head for the exit?

So, the Gupta brothers have called South Africa quits. Although it is not really surprising, as virtually everyone but the president and his family have taken a hostile stance against the family, the swiftness of their departure has raised a few eyebrows

News
Watch: Guptas slam banks on CNN

Oakbay Investments hit back at financial institutions that have cut ties with the company over its alleged links to the Gupta family and President Jacob Zuma on Friday. Oakbay Investments CEO Nazeem Howa told CNN that banks Barclays Africa

News
Letter sets out why Guptas quit

Gupta-owned company Oakbay Investments made contact with President Jacob Zuma and cabinet ministers to express its “deep disappointment” at banks closing its accounts, it was revealed in a leaked letter to staff on