Johannesburg - ANC chairperson Gwede Mantashe has told the Zondo Commission how Oakbay Resources executives begged the party to step in when Gupta-linked companies’ bank accounts were closed by country’s big banks.
Mantashe, who was testifying on behalf of the ruling party, said the former Oakbay CEO Nazim Howa pleaded in a letter to meet with party’s top officials to discuss the closure of Oakbay bank accounts.
Howa emphasised the issue of possible job losses if the the decision of the big four banks was not reversed and how it would make it hard for the company to do business.
In 2016 the country’s big banks, FNB, Absa, Standard Bank and Nedbank decided to cut ties with the Guptas.
Representatives from the bank testified at the commission that their decision was not done in collusion. The banks cited suspicious transactions and reputational risk as a reason to close Gupta related bank accounts.