Duduzane to offload Oakbay shares
Leaked e-mails show that President Jacob Zuma’s son has been deeply immersed in the Gupta family firms
Duduzane Zuma, the son of President Jacob Zuma, says he is in the process of selling his shares in Gupta-owned Oakbay companies. Duduzane Zuma has been deeply immersed in the Gupta family and their businesses, leaked Gupta e-mails show. They tell of the family helping him buy an expensive home in Dubai, organising and paying for his wedding and solving problems in his personal life. He has been a director of 21 companies, but has resigned from the boards of most of them in the past year. He is still a director of seven companies that seem to have stopped trading. However, it is believed that through his company, Mabengela Investments, he owns nearly R850m worth of shares in Gupta-owned companies. In August, Oakbay said that it was selling its media assets — Infinity Media and The New Age — to Mzwanele Manyi. The group was also in the process of selling its mining asset, Tegeta. Zuma had shares in all these companies. The sale of assets by the Gupta family was linked to the closure o...
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