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Oakbay Investments tries to salvage relationships with key financial role players

The family has been accused of unduly benefiting from its relationship with President Jacob Zuma.

FILE: Atul Gupta. Picture: TNA Media.

JOHANNESBURG - Oakbay Investments says it will start talks with major role players in the financial sector to restore severed relationships.

Last week, companies including KPMG, FNB, Absa and Standard Bank cut ties with Oakbay following accusations of state capture levelled against the Gupta family, which owns the company.

Meanwhile, the whereabouts of brothers Ajay and Atul Gupta who are believed to have fled the country, are still in question following their sudden resignation from the company last week.

According to a Reuters report, Oakbay Investments will be talking to four banks this week to give assurance of its good governance and practice.

Last month, allegations of interference surfaced from top government officials who claimed the Gupta family meddled in cabinet appointments.

The family has since been accused of unduly benefiting from its relationship with President Jacob Zuma.

With allegations of state capture levelled against the Gupta brothers, Oakbay Investments has seen a chain of unfavourable events including a boycott by banks.

Now the company is trying to salvage relationships with financial role players who have distanced themselves due to association risk.

LISTEN: Are the Gupta brothers gone for good?