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Sizwe Ntsaluba Gobodo: No regrets on having Oakbay as clients

It is becoming increasingly difficult for the Guptas to do business in South Africa as banks and auditors cut ties.

FILE: Picture: EWN

CAPE TOWN - Another auditing firm has turned its back on the Guptas after the family’s businesses were ditched by major banks and KPMG.

Sizwe Ntsaluba Gobodo announced on Tuesday that it was resigning as auditor of Oakbay Resources and Energy.

In July, the Gupta-owned company was given permission to voluntarily delist from the JSE.

It is becoming increasingly difficult for the Guptas to do business in South Africa as banks and auditors cut ties.

Their troubles are piling up amid allegations that the influential family has been using its political connections to score lucrative state contracts.

Sizwe Ntsaluba Gobodo resigned as Oakbay’s auditor after reviewing its relationship with the company over the past 18 months.

Its chief executive Victor Sekese says the firm does not regret taking on Oakbay as a client.

“In terms of the review that was done by our risk committee, we are satisfied and are comfortable that we have performed our responsibility with accordance to the Audit Professions Act, and particularly our reporting responsibility. We do stand by the work that we’ve done so far.”

Professional service firms such as KPMG, McKinsey, and Bell Pottinger have all come under fire over their dealings with Gupta companies.

(Edited by Zamangwane Shange)