8 Gutpa companies appoint business rescue practitioners

With Gupta owned companies coming under scrutiny, concerns have been raised over employees at these companies losing their jobs.

Ben Theron, Chief Operating Officer at the Organisation Undoing Tax Abuse (OUTA) says they are worried about this. To people stating on social media that these employees should have taken other jobs, Theron says things are more complicated than that.

In South Africa jobs are extremely scare, and people take what they can get. People are just trying to earn an honest wage from an honest's days work.

Ben Theron, COO at OUTA

Theron says two business rescue practitioners (BRP) have been appointed to help the eight Gutpa owned companies. He adds that these companies were appointed at the right speed, but they will have their hands full.

The problem is there are eight companies, which means that if you only have two BRPs - they are going to have their hands full to keep up with the job.

Ben Theron, COO at OUTA

Theron says that some the companies are directly linked to the energy sector and thus will have a huge impact on the countries energy supply if they are taken out.

He adds the there seems to be no indication of government stepping up to help.

Listen to the full conversation below:


This article first appeared on 702 : 8 Gutpa companies appoint business rescue practitioners


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