“I like any other South African citizen have constitutionally protected rights.”
This, Duduzane says, will help preserve the jobs of Oakbay’s thousands of employees and to “de-politicise” his participation in business.
According to a statement released by Oakbay, Duduzane said his background is not different to that of other previously disadvantaged black people.
“I like any other South African citizen have constitutionally protected rights,” says Duduzane.
“My history and background is no different from that of all previously disadvantaged black people.
“The economy is necessarily skewed against us, which is the very basis of the struggle for political and economic emancipation.
“It is beyond dispute that our political miracle did not usher in an economic miracle for our people, hence the grinding poverty, unemployment and persisting inequality.
“Poverty in South Africa carries a black face and I didn’t invent that.
“Notwithstanding my efforts to participate meaningfully in the economy, aspersions were cast on me and my family.
“As a result therefore, 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.
“Lastly, I will continue to be part of my generation whose mission is the economic emancipation of our people. This, my generation will achieve. Like our fathers achieved political liberation for us.”
Oakbay Investments, which employs more than 4,500 people, have created 3500 of jobs in the sector.
“The Gupta family has a 23-year history of strong business performance and turnaround skills. This strong performance has come almost entirely via successful activity in the private sector, with less than 1% of the Group’s revenue coming from government contracts,” the company said in the statement.
President Jacob Zuma’s son Duduzane has stepped down from all Oakbay companies and has exited his investments.
This, Duduzane says, will help preserve the jobs of Oakbay’s thousands of employees and to “de-politicise” his participation in business.
According to a statement released by Oakbay, Duduzane said his background is not different to that of other previously disadvantaged black people.
“I like any other South African citizen have constitutionally protected rights,” says Duduzane.
“My history and background is no different from that of all previously disadvantaged black people.
“The economy is necessarily skewed against us, which is the very basis of the struggle for political and economic emancipation.
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| I didn’t invent black poverty – Duduzane Zuma |
“Poverty in South Africa carries a black face and I didn’t invent that.
“Notwithstanding my efforts to participate meaningfully in the economy, aspersions were cast on me and my family.
“As a result therefore, 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.
“Lastly, I will continue to be part of my generation whose mission is the economic emancipation of our people. This, my generation will achieve. Like our fathers achieved political liberation for us.”
Oakbay Investments, which employs more than 4,500 people, have created 3500 of jobs in the sector.
“The Gupta family has a 23-year history of strong business performance and turnaround skills. This strong performance has come almost entirely via successful activity in the private sector, with less than 1% of the Group’s revenue coming from government contracts,” the company said in the statement.
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