In The News South Africa

Gupta-owned Oakbay Investments sells Tegeta mines for R2.97bln

JOHANNESBURG, August 23 – Oakbay Investments, an investment company owned by the controversial Gupta family, announced on Wednesday that it had sold its interest in Tegeta Exploration and Resources to the Swiss-based Charles King SA for R2.97 billion in a bid “to save employees’ jobs”.   This comes as former government spokesman Mzwanele Jimmy Manyi reached an agreement with the […]

Business In The News South Africa

Gupta-owned Oakbay Resources loses JSE sponsor over ‘associated risk’

JOHANNESBURG, June 5 – Oakbay Resources and Energy, which is owned by the controversial Gupta family, on Monday lost its JSE sponsor, River Group, after being given notice of the termination of their appointment as sponsor. River Group is a JSE sponsor, designated adviser and international corporate finance boutique with a 19-year track record. The […]

In The News South Africa

Oakbay Investments welcomes ruling on FIC report, aims to prove innocence

JOHANNESBURG – Oakbay Investments welcomed the High Court’s ruling on Tuesday that the FIC report detailing “72 suspicious transactions” and Deputy Finance Minister Mcebisi Jonas’s affidavit be struck from Finance Minister Pravin Gordhan’s application. Gordhan has approached the court, seeking a declaratory judgment endorsing that he cannot intervene in the dispute between Oakbay Investments and South […]

In The News South Africa

Gordhan says political connections the reason Gupta accounts closed

CAPE TOWN – Finance Minister Pravin Gordhan has dismissed Oakbay Investments’ claim that banks severed their relationships with the Gupta-owned company because he was plotting against the family as “simply scurrilous” in court documents, and said it was in fact their political connections that prompted the decision. Gordhan, in his replying affidavit to one submitted […]

In The News South Africa

Oakbay claims ‘sensational and politically driven’, says Treasury

PRETORIA – The Gupta family’s company Oakbay has made “sensational and politically-driven” claims and allegations designed to deflect from the primary issues raised in Finance Minister Pravin Gordhan’s recent court application, the National Treasury said on Saturday. “National Treasury notes the filing of an answering affidavit on Friday in the Pretoria High Court in response […]

In The News South Africa

Guptas lambast ‘weak-kneed’ Finance Minister Pravin Gordhan in court papers

TSHWANE – Oakbay Investments, the company owned by the wealthy Gupta family, on Friday lambasted Finance Minister Pravin Gordhan’s court application seeking a court order enforcing his decision not to intervene in the debacle relating to the South African banks that cut links with the controversial family. “The Minister’s superfluous application is riddled with factual […]