How IDC was forced to invest in Oakbay

2017-12-10 06:00

A last-minute, hand-written amendment to a contract forced the Industrial Development Corporation (IDC) to trade R256 million for now-worthless shares in the Gupta family’s Oakbay Resources and Energy at inflated prices in 2014.

DA urges IDC to give Guptas 'a wide berth'

2016-05-25 12:45

The Industrial Development Corporation should “follow the lead of the commercial banks and give the president’s pals a wide berth in future”, says the Democratic Alliance.

IDC met with Atul Gupta over Oakbay loan, but never at Saxonwold

2016-05-24 14:12

Industrial Development Corporation officials met with Atul Gupta and members of his business ahead of providing financial assistance to Oakbay, it has been revealed.


Gupta-owned Oakbay set to make huge loss despite improvement

2016-06-09 15:17

The Guptas’ Oakbay Resources and Energy expects to make a loss of R16.913m in 2016, which it says is a 56% improvement from 2015’s loss of R38.94m.

DA slates IDC response on Oakbay loan restructure

2016-05-24 15:41

The Industrial Development Corporation has “jumped from the frying pan into the fire with a questionable restructuring deal” with Gupta-owned Oakbay, the DA has explained.

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 network.