Former government spin doctor Mzwanele Manyi’s purchase of the Gupta family media empire is nothing more than fronting‚ says the EFF. "We reject both the Guptas and Manyi, and will continue to boycott what remains essentially Gupta media‚" EFF spokesman Mbuyiseni Ndlozi said. The Gupta family’s Oakbay sold its shares in the media companies to Lodidox in a vendor-financed deal — meaning the seller lent Lodidox the purchase price. The structure of the deal was not about media transformation‚ said the red berets.

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, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.