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


Recommended

by NEWSROOM AI
Read More
The rise and fall of the #Guptas

The rise and fall of the #Guptas

Jessica Bezuidenhout explains the plight of the Guptas and how they fell from power and the strike at their Optimum Coal Mine.

Warrant of arrest for Ajay Gupta not linked to Estina - Hawks

Warrant of arrest for Ajay Gupta not linked to Estina - Hawks

The unit's acting head Yolisa Matakata clarified details related to the case in a press briefing on Friday.

DA calls for Ramaphosa to fire Minister Lynne Brown

DA calls for Ramaphosa to fire Minister Lynne Brown

Public Protector Busisiwe Mkhwebane found Brown guilty of misleading Parliament in Eskom's dealings and DA want action taken.

[WATCH] We dare not wait for politics to determine legal justice: Bongani Bingwa

[WATCH] We dare not wait for politics to determine legal justice: Bongani Bingwa

Bongani Bingwa questions whether police are waiting for cabinet reshuffle to act on top officials implicated in corruption

Eskom slaps Optimum Coal with R105 million penalty amid strike

Eskom slaps Optimum Coal with R105 million penalty amid strike

Fresh protests erupted at Gupta-owned Optimum Coal Mine on Thursday morning as workers fear they will not be paid on Friday.

Popular articles
SA braces for horrific fuel price increases as oil hits 4-year high

SA braces for horrific fuel price increases as oil hits 4-year high

It's monstrous! The Money Show’s Bruce Whitfield interviews the Automobile Association of South Africa's Layton Beard.

Dros rape: 'He was sitting near the kid's play area...he had his eye on her'

Dros rape: 'He was sitting near the kid's play area...he had his eye on her'

The man allegedly attacked the six-year-old inside a toilet cubicle at a Dros franchise in Pretoria on Saturday.

New visa rules a relief for our economy and for jobs, says WC MEC

New visa rules a relief for our economy and for jobs, says WC MEC

The Western Cape government and SA Tourism have welcomed the amendments to South Africa's visa regulations.

'She says I'm just waiting for this c**lie to move so I can take the photo'

'She says I'm just waiting for this c**lie to move so I can take the photo'

A caller on the Eusebius McKaiser Show, Zeenat says she was called a derogatory word for Indian on Heritage Day.