Will ‘Gupta’ now enter the South African lexicon as a by-word for financial and corporate intrigue? Certainly the family name has become synonymous across the country with Machiavellian business machinations and has been conflated with Zuma by the EFF into ‘Zupta’.
Presently the Guptas are the subject of daily attention: the latest bombshell, delivered by Mcebisi Jonas, Deputy Minister of Finance, claimed the family offered him the job of Finance Minister shortly before Nhlanhla Nene was removed.
Attention on the family and their dodgy relationship with the President will certainly gain momentum as local government elections draw nearer. The Gupta family’s questionable business dealings and apparent power, together with Nkandla, provide fodder for those seeking to remove Jacob Zuma.
The story is gaining momentum: the SACP has recommended a judicial commission to probe issues relating to the Gupta’s business deals as well as what they term the ‘corporate capture’ of government by businesses. While such an investigation will go beyond the family, it is likely that their name will survive as a symbol of ‘corporate capture’.
Not since ‘Hoggenheimer’ in the early twentieth century has a name achieved such traction. In that case, however, Hoggenheimer was fictitious. Indeed he was a cartoon caricature, in the tradition of European cartoons of the late nineteenth century when international capital was personified in a vulgar, bloated and Semitic-looking caricature.
In South Africa, Hoggenheimer appeared precisely at a time the Witwatersrand mining magnates appeared to dominate domestic politics. From the ‘Goldbug’ sketches of Heinrich Egersdörfer to the cartoons of D.C. Boonzaier, the overweight and diamond-studded Randlord was depicted as having inordinate power.