It’s no longer business as usual as things have continued to turn messier for businesses owned by the Gupta family.
Last month, First National Bank [FNB] toed the lines of Barclays Africa and KPMG, who earlier severed ties with the affluent family. Now, DSTV is not happy with the family’s news channel ANN7.
Lately, the Independent Media refused to run Oakbay Investment advertisement on its newspapers. Though, Oakbay Investment alleged that the Independent Media’s decision is linked to “sustained attacks ” on the family, the latter asserted that it is not okay to run advertisements from competitor media owners, such as Oakbay Investments, in its publications based “on the legal risk associated with them.
However, the family’s nightmare is turning scarier as television service provider- MultiChoice is considering aborting Gupta TV news channel-ANN7. According to the giant television provider, ANN7 has refused to adhere to programming standards leading to large number of complains form customers.
Some insiders noted that MultiChoice was worried about ANN7’s repeated failure to adhere to its programming schedule and also the dwindling rate of its viewership number.
Meanwhile, report says MultiChoice has expressed reluctance in renewing Gupta TV- ANN7′ s contract, referencing ceaseless customer complaints as the primary reason. The viewer complaints indicated lack of consistency in programming, no communication on news anchor changes and widespread mistakes as major loopholes.
In another shocking revelation, several ANN7 staff members stated that Oakbay Investments CEO Nazeem Howa last month informed them that the company could only guarantee their jobs until June.
Howa attributed the ugly development to four major South African banks’ decision to close Oakbay accounts. The company recently went on the offensive in another bid to pressurize banks to re-open their accounts, placing adverts in newspapers urging CEOs to “do the right thing and restore banking services for Oakbay”.
Meanwhile, Gupta TV- ANN7’s contract with Multichoice ends in August. However, workers’ fate is yet still unclear.
Cosatu president Sdumo Dlamini confirmed last month that the union leadership sat with the Gupta family and that the family merely travelled to India for a family marriage and would be back to South Africa.
The family allegedly influen in government.
While South Africa awaits their arrival, it is glaring all is not well with the businesses they left behind as their standard have continued to drop drastically.