BuzzSouthAfrica has confirmed that the Gupta family is indeed making plans to sell all the Gupta’s South African shareholding before the year runs out.
Reports about this circulated after the allegation claiming the Guptas are behind the Finance Minister, Pravin Gordhan’s war with the Hawks and SARS.
Gordhan reportedly alleged that his ordeal is sponsored by the influential family because of the actions the National Treasury has undertaken.
In response, the Guptas wailed that they’ve always been victims of political propaganda in South Africa. They begged the media to desist from linking them to the Gordhan issue.
“We have read media reports on News 24 regarding the alleged comments by Finance Minister Gordhan to his Treasury staff about the Gupta family with deep disappointment,” wailed the Guptas.
Subsequently, the family decided that selling its shares in South African businesses would be ideal.
You’ll recall that the family sometime in April, decided to step down from all executive and non-executive positions in their Oakbay Investment.
The Guptas pointed-out that the decision ushered in growth in the establishments and helped to resolve the troubles bedeviling the outlets.
As such, the family asserted that their decision to quit SA businesses will benefit everyone. They will be selling all the Guptas South African shareholding.
Speaking for the family, Gary Naidoo said: “since all our decisions to step down from all executive and non-executive positions in all our South Africa businesses, the local management team has also grown our business from strength to strength. The turnover and profit showing good growth and more jobs created.
“As a family, we now believe that the time is right for us to exit our shareholding of the South African businesses which we believe will benefit our existing employees, and lead to further growth in the businesses.
“We believe that this decision is in the best interests of our business, the country and our colleagues,” stated the Guptas.
BuzzSouthAfrica learnt that the family is already discussing with prospective international buyers.
Recent estimate has it that the Guptas parent company – Sahara Group – bags an annual turnover of about 200 Million rand and employs over 10,000 people.