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Banks in South Africa urged to restore ties with Guptas-owned firm

Xinhua, April 20, 2016 Adjust font size:

Employees of a South African company, owned by the wealthy Gupta family, have appealed to banks in the country to restore ties with the company.

Several banks recently closed the accounts of the company, Oakbay Investments, following allegations that the Guptas exerted undue influence on the South African government.

In an open letter to CEOs of ABSA bank, First National Bank, Standard Bank and Nedbank, the employee said "thousands of jobs" would be lost if the banks do not reopen the accounts by the end of May.

"We are not rich people. We are not politically connected. We have not captured the state," the employees said in the letter.

Some sitting and former officials have alleged that the Guptas offered them cabinet posts -- allegations the family deny.

"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," the employees said, adding: "How will we feed our families? "

The Guptas moved from India to South Africa in 1993 and have since invested more than 10 billion rand (about 700 million U.S. dollars) in the country.

President Jacob Zuma has come under fire for his links with the Guptas. His son Duduzane Zuma earlier this month resigned from a subsidiary of Oakbay Investments, following intense pressure. Endit