Zuma’s Son Says He’ll Quit Gupta Mining Firm in South Africa

Duduzane Zuma

Reuters, 08/04 18:34 CET

By Tiisetso Motsoeneng and Zandi Shabalala

JOHANNESBURG (Reuters) – South African President Jacob Zuma’s son said on Friday he would sell his investments in a mining firm owned by friends of his father amid speculation that the wealthy family is wielding undue political influence.

Duduzane Zuma’s announcement came days after First National Bank, a unit of FirstRand, joined three other South African companies in quitting as bankers and auditors of companies owned by the Indian-born Gupta family.

In a memo to staff seen by Reuters, Oakbay Investments – a holding company for Gupta businesses in South Africa – said it had approached government departments including Zuma’s office to express “deep disappointment” over decisions by banks to close its accounts.

The Presidency and Oakbay did not immediately respond to requests for comment on the content of the memo.

Citing “aspersions” against his own family, Duduzane said he would also step down as a director of Shiva Uranium, the main subsidiary of Oakbay Resources, which houses the Gupta family’s mining assets. 

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Source: Euronews