April 6, 2016 / 11:05 AM / 2 years ago

South African FirstRand's retail bank closes accounts held by Zuma friends - Oakbay

JOHANNESBURG, April 6 (Reuters) - A South African company owned by friends of Jacob Zuma, said on Wednesday First National Bank has closed its accounts, the latest local company to shun the Gupta family due to a scandal over its relationship with the president.

“Oakbay has received no reason whatsoever justifying FNB’s actions. We are already in the process of moving our accounts to a more enlightened institution,” Oakbay Investments said in a statement. FNB is a unit of FirstRand

Three other South African companies, including KPMG and Barclays Africa, have severed ties with a firm owned by the Guptas, a family of Indian-born businessmen. (Reporting by Tiisetso Motsoeneng; Editing by James Macharia)

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