PRESIDENT Jacob Zuma's son Duduzane and the Gupta family have offered to cooperate fully with an investigation by Cosatu into allegations that they are using their political connections to enrich themselves
The Guptas, represented by Ajay Gupta, Jagdish Parekh and Zuma junior, met Cosatu president Sdumo Dlamini and general secretary Zwelinzima Vavi yesterday.
During the meeting the Guptas denied that Zuma had ever influenced or facilitated business deals on their behalf.
"They gave Cosatu a file giving details of all their companies, which the federation will now study and appoint a person to follow up whatever information might be necessary," Cosatu spokesperson Patrick Craven said.
He said the Guptas had offered to cooperate with the Cosatu investigation and were prepared to open their books and their bank balances to the probe.
"They claim that the Gupta family never took a single cent from the government, never tendered or won a government tender, never received any mining licence and never received a single cent from the Public Investment Company."
Craven said the Guptas and Duduzane Zuma had also pointed out that the Industrial Development Corporation regarded them as PEP (politically exposed persons) and wanted to slap them with a 10percent surcharge.
PEP is a term used in the business world to describe individuals who are closely connected to people in positions of influence.
Most financial institutions view such clients as potential compliance risks and normally impose stringent conditions on them. Such individuals are also regarded as presenting a higher risk for potential involvement in bribery and corruption.
The Guptas also rejected allegations that they had influenced the appointment of former PIC head Brian Molefe as new Transnet chief executive officer.
"They agreed that they are friends of Molefe but they never influenced his appointment to Transnet," said Craven.
The Guptas and Zuma said there was only a memorandum of understanding with a Chinese company - the Chinese Rail Commuter Corporation.
They argued that the story that they stand to benefit from a R500 million government infrastructure investment was not true.
They also said the R9 billion ArcelorMittal deal they reportedly clinched last year was still to be presented to the shareholders "and the likelihood was that the deal would not go through".
Guptas open books for scrutiny
PRESIDENT Jacob Zuma's son Duduzane and the Gupta family have offered to cooperate fully with an investigation by Cosatu into allegations that they are using their political connections to enrich themselves
The Guptas, represented by Ajay Gupta, Jagdish Parekh and Zuma junior, met Cosatu president Sdumo Dlamini and general secretary Zwelinzima Vavi yesterday.
During the meeting the Guptas denied that Zuma had ever influenced or facilitated business deals on their behalf.
"They gave Cosatu a file giving details of all their companies, which the federation will now study and appoint a person to follow up whatever information might be necessary," Cosatu spokesperson Patrick Craven said.
He said the Guptas had offered to cooperate with the Cosatu investigation and were prepared to open their books and their bank balances to the probe.
"They claim that the Gupta family never took a single cent from the government, never tendered or won a government tender, never received any mining licence and never received a single cent from the Public Investment Company."
Craven said the Guptas and Duduzane Zuma had also pointed out that the Industrial Development Corporation regarded them as PEP (politically exposed persons) and wanted to slap them with a 10percent surcharge.
PEP is a term used in the business world to describe individuals who are closely connected to people in positions of influence.
Most financial institutions view such clients as potential compliance risks and normally impose stringent conditions on them. Such individuals are also regarded as presenting a higher risk for potential involvement in bribery and corruption.
The Guptas also rejected allegations that they had influenced the appointment of former PIC head Brian Molefe as new Transnet chief executive officer.
"They agreed that they are friends of Molefe but they never influenced his appointment to Transnet," said Craven.
The Guptas and Zuma said there was only a memorandum of understanding with a Chinese company - the Chinese Rail Commuter Corporation.
They argued that the story that they stand to benefit from a R500 million government infrastructure investment was not true.
They also said the R9 billion ArcelorMittal deal they reportedly clinched last year was still to be presented to the shareholders "and the likelihood was that the deal would not go through".
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending
Latest Videos