Atul Gupta: We didn't create 'white monopoly capital' term

Bell Pottinger founder Lord Bell says that the Gupta family claimed that the colour of their skin made it hard for them to do business in SA.

FILE: Atul Gupta. Picture: Atul Gupta Kumar/Facebook

JOHANNESBURG - Atul Gupta has denied claims that his family created the term "white monopoly capital" with the help of public relations firm Bell Pottinger.

The Guptas and the firm have been under fire for months now over the family's alleged atttempts to capture the government but both insist that their relationship - which has since been terminated - was above board.

Gupta was interviewed by BBC Radio 4 - who also spoke to Bell Pottinger's former chairperson Lord Bell and the current CEO James Henderson on Tuesday to discuss their alleged campaign to exploit racial tensions in South Africa.

During the interview, Atul denies seeking Bell Pottinger’s services for political reasons and maintains that the company was only helping with PR for Oakbay Investments.

In the interview, Atul says that white monopoly capital has always existed and it wasn’t the family nor Bell Pottinger who created it.

“If you go to any revolutionary speech in this country, the term white monopoly capital exists and I don’t know where this term comes from, believe me.”

However, Bell says that Tony flew him and his colleagues to Cape Town, boasted about how rich he is and then explained that they needed a campaign that will advance the family's economic acquisition, claiming the colour of their skin made it hard for them to do business in the country.

“We went away and made a proposal and it suggested that we should do various things, including we should organise people to march and make a fuss about the fact that they’ve got the vote in 1994 but they nothing in power.”

At the same time, Atul says there is no authenticity to the Guptas' leaked emails and the narrative being created around the family is false.

(Edited by Winnie Theletsane)