ITWeb reports that Gupta family-owned Sahara Computers has put on hold job retrenchments that hit the company in June. This comes after the ICT distributor last week reported revenue of R1.1 billion for the year ended 29 February.
Sahara started laying off staff after an impasse with SA's top banks emanating from the Gupta family's close connections with president Jacob Zuma. First National Bank, Absa and Standard Bank closed the controversial Gupta family's accounts following the so-called "state capture" allegations. There are no further retrenchments at Sahara Computers this time, says Nazeem Howa, chief executive of Oakbay Investments, Sahara's parent company. Nonetheless, the company says the decision by SA's big banks to close Oakbay's bank accounts continues to cause problems and threatens jobs. An offshore bank is being used to pay salaries.
- Read this report by Admire Moyo in full at ITWeb
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