Oakbay workers appeal to South African banks to reopen accounts

by Reuters 0

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Workers at Oakbay Investments appealed on Wednesday to South African banks to restore relations with their company, saying their livelihoods were at stake.

“If by the end of May the accounts remain closed, Oakbay’s businesses will close. That means that thousands of us will be without a job,” their representatives said in a statement.

Oakbay is scrambling to restore banking relationships after all four major South African banks cut ties following allegations that its owners, the Gupta family, have undue political influence with President Jacob Zuma.