By BO Staff Writer
Today, in a tense statement, the Gupta family announced that it will be selling all their shares in their South African businesses. The family has come under extreme, sustained and unjustified attack from white business, often using their political proxies.
The Guptas have been doing business in South Africa for over twenty years, from humble beginnings to a medium sized empire which was fast growing and entering into strategic sectors such as mining which white business perceives as its family jewel. The woes of the Gupta family were increased after they bought Optimum Coal from the Swiss giant Glencore and turned it around. White business, led by Johann Rupert, piled up pressure to muscle the Guptas out of business and the country.
The tone of the family statement shows that it was a very difficult decision taken under duress. The family seem to have decided to abandon their own interests for sake of their workers and country. After the banks unjustifiably closed the bank accounts of the family’s businesses, the people who stood to suffer the most were the workers. The Gupta family has kept their workers employed under these impossible conditions. The family seems to have decided to sell their business interests for the country and the sake of the economy which has come under extreme attack coupled with measures to instigate political instability with the view of regime change.
It seems like the family was cognisant of the fact that the political attacks on President Jacob Zuma have been centered around them. The regime change forces have been using the media to drive a negative slanderous campaign against Zuma through targeting the family.
It is rare for a business family which is making good business to decide against its own interests for the sake of a bigger ethical consideration and for the well being of others. The Guptas took on white capital and it responded with a scorch-earth policy. The battering of the economic and political instability are all part of the determination of white capital to safeguard its interests by any means necessary.
The untimely exit of the Gupta family from the economic battle front in South Africa leaves the field practically in white hands. The Guptas as players in the South African scene shall be remembered for being a bunch of upstarts who dared to face the white Goliath and gave it a good run for its money. There is little doubt that the South African economic sector has a lost a colourful and aggressive player.
Now it’s back to the dullness of staid white monopoly capital and its undisturbed hegemony.