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Press Release: The Gupta family welcomes ANC review (22.03.2016)

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JOHANNESBURG, South Africa, March 22, 2016 – Regarding the release of the ‘Statement of the African National Congress following the National Executive Committee meeting held 18-20 March’, the Gupta family said:

“The Gupta family welcomes the decision of the ANC to investigate the alleged capture of the state by any business entities.

We welcome this process which should ultimately allow the truth to be recognised and end this current trial by innuendo and slander. We will fully cooperate with the Office of the Secretary General during the information gathering process.

We reiterate our support for the country’s Constitution and the rule of law and believe state capture from any quarter should be condemned.  We remain committed to the overall well-being of South Africa and all its citizens.”

It would be inappropriate for us to comment any further until publication of the findings.”

About Oakbay Investments and the Gupta family

Oakbay Investments (OakBayInvestments.co.za) has invested more than R10 billion in South Africa. Oakbay Investments is 100% transparent – all numbers have been verified by one of the world’s most respected accountancy firms.

The Gupta family has a 23-year history of strong business performance and turnaround skills. This strong performance has come almost entirely via successful activity in the private sector, with less than 1% of the Group’s revenue coming from government contracts.

Sector diversification has also enabled Oakbay companies to deliver consistent growth and job creation throughout times of both economic boom and bust.

For example, 47,000 jobs have been lost in South Africa’s mining sector between 2012 and 2015. In contrast, Oakbay’s mining companies have created 3500 of jobs in the sector.

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