NEWS & ANALYSIS

Zuma must accept responsibility for ‘Guptanami’ – Solidarity

President must acknowledge his role in job losses that might arise due to the family's abuse of state

Zuma must accept responsibility for ‘Guptanami’ – Solidarity

11 April 2016

Trade union Solidarity today called on President Jacob Zuma to accept responsibility for the likely job losses that may arise due to the Gupta family’s corrupt abuse of the state.

This comes after several of the country’s major banks, including FNB and Absa, recently announced that they would turn their back on the controversial Gupta family and their businesses. 

Dr Eugene Brink, a political analyst at Solidarity, said that while it was the Guptas’ own doing that South African businessmen and the financial sector rejected them, President Zuma’s role in the debacle could not be denied.

“The Guptas’ corrupt and underhanded business transactions were mostly being made possible by President Zuma. If the Guptas’ employees now suffer as a result and they lose their jobs, President Zuma should be held accountable,” Brink said.

Brink contends that the future of all the Guptas’ businesses could possibly be in jeopardy because of their politicking with President Zuma. “Other banks and institutions will possibly also sever ties with the Guptas and the media storm arising from their leaving South Africa would add fuel to the fire as well. As a result, the share price of their companies could plunge, and all of this could have a devastating effect,” Brink warned.

Brink said it would appear as if the Guptas are not in the least concerned about the fate of their employees. “This is also apparent from the Guptas’ mismanagement of the Brakfontein Coal Mine outside Delmas, currently owned by the family. Earlier, workers were up in arms over poor working conditions and non-payment of wages,” Brink said.

Issued by Eugene Brink, Political Analyst: Solidarity, 11 April 2016