ANC congratulates Manyi on ANN7, The New Age purchase

2017-08-24 13:21
Mzwanele Manyi. (James Oatway, Gallo Images, Sunday Times, file)

Mzwanele Manyi. (James Oatway, Gallo Images, Sunday Times, file)

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WATCH: Guptas sell ANN7, The New Age in latest 'purge'

2017-08-21 03:45

The Guptas have sold media properties ANN7 and The New Age to former government communications CEO Mzwanele Manyi, in the latest 'purge' of companies in SA linked to the Gupta name. Watch. WATCH

Johannesburg - The African National Congress has congratulated Mzwanele Manyi's company Lodidox on its purchase of the Gupta-owned media units ANN7 and The New Age.

The firm, owned by Manyi, bought the media units on Monday.

Gupta-owned Oakbay Investments said in a statement that Lodidox had bought ANN7 (Infinity Media) for R300m and The New Age (TNA Media) for R150m.

READ: Gupta crusader to media owner: Who is Mzwanele Manyi?

ANC spokesperson Zizi Kodwa said on Thursday that the party remained "committed to preserving the cordial and constructive relationship with the new owners of these media institutions".

This comes after the Bank of Baroda pulled its plug on Gupta-owned firms and after South Africa's top four banks blacklisted the group's accounts in 2016.

On Wednesday, Oakbay sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97bn.

This was second sale by the controversial Gupta family this week.

Read more on:    anc  |  mzwanele manyi  |  gupta brothers  |  johannesburg  |  economy  |  media

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