Zuma’s son says to quit Gupta mining firm in South Africa (Reuters U.S. – April 8, 2016)

http://www.reuters.com/

South African President Jacob Zuma’s son, Duduzane, will sell his investments in a mining firm owned by friends of his father amid speculation that the wealthy Indian-born family is wielding undue influence on domestic politics.

Duduzane’s announcement on Friday comes days after First National Bank, a unit of FirstRand, joined three other South African companies in quitting as bankers and auditors of companies owned by the Gupta family.

Citing “aspersions” against his family, Duduzane said he would also step down as a director of Shiva Uranium, the main subsidiary of Oakbay Resources, the Guptas’ main mining holding company.

“I have decided to relinquish all positions that I hold at Oakbay companies and am exiting investments to preserve the jobs of Oakbay’s thousands of employees and to de-politicise my participation in business,” he said.

The mine is 26 percent-owned by Islandsite 255, a company of which Duduzane is also a director. It employs 648 people, the family said last month.

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