JOHANNESBURG - The Guptas may sell their biggest asset in the information communication technology sector, Sahara Computers, according to Tech Central.
Rumours of the possible sale have occurred after the Guptas other assets were also put on sale. The Guptas have sold Infinity Media, parent company of news channel ANN7, and TNA Media publisher of The New Age to former government spokesperson Mzwanele Manyi for R450 million. Mzwanele Mani and the Gupta’s have a vendor fencing agreement, meaning that the Gupta’s will be funding the purchase of the companies.
According to sources that spoke with TechCentral Sahara has been retrenching their staff but the company executives have been tight lipped and have rebuffed any attempts by TechCentral to get comment. Different sources that are apart of the technology distribution channel have said that Sahara may retrench staff.
Also read: Are the #Guptas getting ready to bounce?
Last year the Gupta’s had to retrench staff 40 workers that worked for Sahara Computers because the problems that they were having with South African banks. This past week news of another asset of another Gupta’s came to light. The Gupta’s holding company, Oakbay sold their stake in Tegeta Exploration and Resources to a relatively unknown Swiss company Charles King for R3 billion.
The Gupta's have been in hot water recently due South African banks refusing to take Gupta business,Bank of Baroda's financial services deadline and allegations of corruption between the Gupta's and President Jacob Zuma. The Gupta family has been closely tied to President Jacob Zuma and his family. Zuma’s son Duduzane Zuma is the CEO of Sahara Computers received this position just six months after Jacob Zuma came into power as the president.
Sahara Computers was established in 1994 and according the company have been operating successfully in South Africa. Last year Oakbay reported that Sahara Computers was the second highest contributor with R1.1bn.