Oakbay appoints new auditor

Oakbay Resources and Energy says SizweNtsalubaGobodo has been appointed with immediate effect.

Picture: Supplied.

JOHANNESBURG - Oakbay Resources and Energy has appointed SizweNtsalubaGobodo as its new auditing firm after KPMG cut ties with the Gupta-owned company.

The 15-year relationship came to an end last month following claims that the controversial family has undue political influence on President Jacob Zuma.

The Guptas have denied the claims and have challenged their detractors to provide proof.

Oakbay says SizweNtsalubaGobodo has been appointed with immediate effect.

KPMG ditched the Gupta-owned company last month saying it was concerned a continued relationship would pose reputational risk to the firm.

Oakbay's JSE sponsor, Sasfin, also severed ties citing a strategic repositioning for its decision.

Since then, all four major South African banks have pulled out of several Gupta companies.

In response to this, the Gupta family released a statement last month confirming that all its members had resigned from their positions at the firm along with Duduzane Zuma.