We are proudly in business with Guptas - MKMVA

2016-03-30 15:21
(Lizeka Tandwa, News24)

(Lizeka Tandwa, News24)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Johannesburg – We have been proudly and confidently doing business with the Gupta family, Umkhonto weSizwe Military Veterans Association (MKMVA) chairperson Kebby Maphatsoe said on Wednesday.

Maphatsoe said they had had extensive business relations with the Gupta family.

He said they appreciated the voluntary business relations with them.

"We are not captured and we encourage others to come and do business with us," he said.

Maphatsoe said when there were questions surrounding the Gupta-Glencore deal, the association called the Guptas and "sat down with them".

He said they were satisfied with their explanation. He said the only reason there was a "revolt" against them was because they were stepping into white business territory.

"When companies, especially the blacks... want to touch into this area ... there will be revolt. This thing of seeing a revolution against the Guptas is because they are touching a nerve to say it’s not business as usual," he said.

Glencore agreed to sell its Optimum coal complex to Tegeta for R2.15bn in December after the operation had gone into bankruptcy protection because it claimed it was locked into an unprofitable contract.

Tegeta is controlled by the Gupta family, whom President Jacob Zuma describes as his friends.

The Guptas are also in business with Zuma’s son, Duduzane, who, according to Tegeta's share register, received a stake in Tegeta three weeks before it bought Optimum.

Read more on:    mkmva  |  gupta family

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Financial advisors – Do you need one and should you get one?

The good, the bad, and everything else you need to know when considering hiring a financial advisor.


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.