Gupta Family Response



oakbay investment

16 March 2016

Gupta family respond to false allegations, 16 March, 2016

Issued on behalf of the Gupta Family 

Johannesburg, South Africa – Wednesday 16 March 2016: "The Gupta family respond to today's statement by Deputy Minister of Finance Mr. Mcebisi Jonas (MP).

 A Gupta family spokesperson said:

"These latest allegations are just more political point scoring between rival factions within the ANC. To be clear: any suggestion that the Gupta family or any of our representatives or associates have offered anyone a job in government is totally false."

"We challenge Minister Jonas to provide a full account of the supposed meeting that took place, under oath, in a court of law. Minister Jonas is attempting to cover up and divert attention away from his own relationships and practices. We are confident questions about his own ethical standards will be exposed."

"We will not provide any further running commentary on what is now just a politically-motivated campaign against us."

Notes to Editors:

For more information, please contact: corpcomm@oakbay.co.za.

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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