“We are bemused by Mr Maseko’s six-year-old allegations, which are totally unfounded" - Nazeem Howa, CEO of Oakbay Investments 

JOHANNESBURG, South Africa, March 20, 2016/ -- Nazeem Howa, CEO of Oakbay Investments (http://www.Oakbay.co.za), the holding company for the Gupta family’s businesses in South Africa, said:

“We are bemused by Mr Maseko’s six-year-old allegations, which are totally unfounded. It is clearly part of an ongoing, coordinated campaign involving others, to continue an already vicious politically-driven attack, using the Gupta family as a proxy.

“As a senior government official at the time of the alleged incident, surely Mr. Maseko would have followed the accepted regulations and responsibilities that came with his role and reported what amounts to serious allegations to the appropriate responsible officials, including his Minister. We are keen for Mr Maseko to confirm that this was done at that time in keeping with the legal responsibilities he had as an official of GCIS.

Both Oakbay and the Gupta family have full confidence in the country's constitution, and appropriate judicial and political processes, to ensure that the truth is exposed for the South African people.

“Finally, if Mr Maseko’s allegations are to be believed, The New Age would have received an extraordinary amount of government advertising post its launch, which the statistics prove is totally untrue.

“For the period from The New Age's launch on December 6, 2010 to December 31, 2011, (the period that Mr Maseberefers to) the paper received 1,8% of national government’s total advertising spend, which makes a mockery of alleged pressure to push revenue to The New Age.

“Despite TNA Media being a private company, we are taking the unusual step of releasing confidential company information, in the interests of full transparency. For the period December 6, 2010 to December 31, 2011 total advertising booked by GCIS into The New Age was under R2.5million for the full period.”