Guptas hit back at banks on CNN
Cape Town - Oakbay Investments hit back at financial institutions that have cut ties with the company over its alleged links to the Gupta family and President Jacob Zuma on Friday.
Oakbay Investments CEO Nazeem Howa told CNN that banks Barclays (Absa) and First National Bank, as well as auditing firm KPMG have not provided sufficient reasons for cutting ties with the company.
“The banks have been very scarce in their information to us. They’ve primarily told us that in terms of their terms and conditions, they have the right to cancel our banking facilities,” said Howa.
“Not one of them have come forward with anything we’ve done wrong or anything we may not have done correctly in our relationships with them,” he added.
Instead, Howa told CNN’s Richard Quest that the banks have cited “reputational damage” for cutting ties with Oakbay.