This week Oakbay Investment CEO Nazeem Howa flatly denied that the Gupta-owned company was involved in “state capture”.
“I think it (state capture) has become a side show,” he said on SABC 2 on Wednesday. “The shareholders or any of our professional CEOs who run any part of our business have never spoken about its ability to capture state or appoint ministers.

“One would then have to assume that we have a puppet government in place to say that we can influence any particular leader,” he said. “I don’t believe that any of our leaders can be called a puppet in any way.

“We’re primarily business people,” he said. “We want to do business, we don’t want to get involved in politics.”
Board member Terence Rensen will become Oakbay Resources chairperson, while finance director Trevor Scott will become Oakbay Resources acting CEO until a new candidate is selected to fill the vacant positions, the company said.