Johannesburg - Workers at Oakbay Investments appealed on Wednesday to South African banks to restore relations with their company, saying their livelihoods were at stake.
Oakbay is scrambling to restore banking relationships after all four major South African banks cut ties following allegations that its owners, the Gupta family, have undue political influence with President Jacob Zuma.
Read: Bankers, auditors drop Gupta-linked firms
“If by the end of May the accounts remain closed, Oakbay's businesses will close.
“That means that thousands of us will be without a job,” their representatives said in an open letter to banks.
Oakbay has said it employs 7 500 employees.
Read: Oakbay keen to talk to banks
At least one of the four banks that have ostracised Oakbay, which houses the Gupta family's businesses, has refused entertain the company's attempt to patch up relations.
Barclays Africa's Absa, First National Bank (FNB), part of FirstRand, Standard Bank, Nedbank, investment bank Sasfin and the local unit of global auditors KPMG cut their business ties earlier this month.
Zuma has acknowledged the Guptas are his friends, but denies anything improper. The Guptas, whose wide range of business interests include media and mining, have denied the allegations and say they are pawns in a plot to oust Zuma.
REUTERS