Former Oakbay director Duduzane Zuma announced in an email on Tuesday that he would be donating all profits from the sale of his shares in Oakbay to a charitable youth development organisation.
"I have decided that ALL (100%) of the money from the sale of the shares in the media businesses will go to a new Youth Development Programme specifically focused on creating real and sustainable jobs," Zuma said.
The announcement comes after Zuma announced that he would sell his shares in Oakbay companies, which, the email says, "is currently underway," Duduzane quit amid allegations of state capture by the controversial Gupta family, which owns Oakbay.
Gupta family members also resigned all executive and non-executive positions held in Oakbay Investments.
"While this new programme has a specific interest in graduates, it will be for all young people, male and female, regardless of background."
"The young are the future, but they must be given a chance to succeed. This will need sacrifices from everybody in authority or with privilege."
"I will give more details of the project in the coming weeks," he said.