Gupta links: Barclays Africa reviews KPMG relationship
Absa meets auditing firm representatives and has early feedback on some aspects of its investigation into Gupta work
Barclays Africa Group is reviewing its relationship with KPMG, as the auditing firm comes under scrutiny for work on behalf of South African companies linked to the politically connected Gupta family. In 2016, the nation’s biggest lenders including Barclays Africa’s Absa unit, closed bank accounts of businesses tied to the family, who are friends with President Jacob Zuma and in business with one of his sons. The former public protector, Thuli Madonsela, alleged in November that Zuma allowed the Guptas to influence appointments to the Cabinet and the awarding of state contracts, which they deny. KPMG allowed Gupta businesses to divert public money to pay for a wedding of members of the family, according to the amaBhungane Centre for Investigative Journalism. Absa had met KPMG, KPMG International and the company’s lawyers and was given preliminary feedback on some aspects of the auditing firm’s internal investigation into its Gupta work, the bank said in response to questions on Thur...
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