Oakbay Investments, the Gupta-owned company that has had its banking services terminated, has circulated a bizarre conspiracy theory in which it claims that South African banks are under the control of the Rupert family. The company also suggests that Project Spider Web, which claimed a conspiracy between Treasury officials, foreign governments and white business, has “been right all along”. Some of the arguments it punts have also recently turned up in press statements by the African National Congress (ANC) Women’s League and ANC Youth League. It is also believed to have been presented to the ANC. Business Day earlier reported that the presentation had been given to the ANC top six. However, ANC secretary-general Gwede Mantashe said that it was not the top six who had received the presentation. Project Spider Web, which claimed to be “an intelligence dossier” was circulated last August and was the precursor to various political attacks on the Treasury, including the shock dismissal...
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