An employee of the Gupta-associated TV station ANN7 approached the South African Post Office (Sapo) in August, requesting a meeting with the CEO to discuss the opening of a bank account for the company. ANN7, and various companies owned by the Guptas, face an uncertain future following decisions by SA’s major banks to cut ties with the family. The family has been accused of state capture, wielding undue influence on President Jacob Zuma and his Cabinet, and milking state-owned enterprises for the benefit of their companies. Earlier in October, the High Court in Pretoria ordered the Bank of Baroda, the last bank to continue offering services to the Guptas, not to close the accounts of companies linked to the family pending a final application. The Bank of Baroda was to pull the plug on the accounts of 20 companies on September 30. The companies approached the High Court in Pretoria to have the main application, meant to be heard in December interdicting the bank from closing the acco...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now