South Africa's Gupta-owned Oakbay to oppose Gordhan application - lawyers

Last Updated: Wed, Oct 19, 2016 20:02 hrs
South African finance minister Pravin Gordhan gestures in his office in Pretoria, as he speaks via video link to a Thomson Reuters investment conference in Cape Town South Africa

JOHANNESBURG (Reuters) - South Africa's Oakbay Investments will oppose Finance Minister Pravin Gordhan's court application linking the firm and its owners, who have close ties to President Jacob Zuma, to suspicious transactions, its lawyers said on Wednesday.

Gordhan said in a court affidavit that 6.8 billion rand ($491 million) in payments made by members of the Gupta family and companies they control had been reported to authorities as suspicious since 2012.

(Reporting by Tiisetso Motsoeneng; Editing by James Macharia)

More from Sify: