BDLive reports that Cosatu on Tuesday said it would table before the National Economic Development and Labour Council (Nedlac) the decision by SA’s four major banks to terminate banking services for companies owned by the politically connected Gupta family.  

Cosatu president Sdumo Dlamini said the labour federation remained concerned at the possible negative effect on the employees of these companies, but investigations into the family should continue.  The Gupta family is in the middle of "state capture" claims that it exerts undue influence on critical government decisions due to its proximity to President Jacob Zuma.  The family’s business vehicle, Oakbay Investments, maintains that 7,500 jobs are at risk following the decision by financial institutions in SA to cut all ties with the firm.  A report by a ministerial team appointed to discuss the issue with the banks is expected to be handed to the Cabinet early in May.

• Read this report by Karl Gernetzky in full at BDLive

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