BREAKING: Nazeem Howa quits Oakbay Resources

17 October 2016 - 18:44 By Tmg Digital
subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now
Nazeem Howa at a New Age press briefing on 2014, June 19.
Nazeem Howa at a New Age press briefing on 2014, June 19.
Image: Tshepo Kekana / Sunday World.

Nazeem Howa – a business associate of the influential Gupta family – resigned as non-executive director of Oakbay Resources‚ citing ill health on Monday.

Howa is departing the company just days after a bombshell affidavit by Finance Minister Pravin Gordhan about nearly R7 billion worth of financial transactions made by companies aligned to the Gupta family.

  •  

“Based on medical advice‚ Mr. Howa has resigned for reasons relating to poor health‚” the company said in a statement. “The Nominations Committee intends to convene in due course to consider the vacancy that has arisen as a result of Mr. Howa’s resignation.

"Mr. Howa was not a member of any board committee at the time of his resignation.

"The Board wishes to thank Mr. Howa for his efforts over recent months and wishes him the very best in his recovery‚” said the company. Howa has also stepped down as chief executive officer at Oakbay Investments.

Howa said‚ “It has been an honour and a privilege to lead such a talented group of co-workers”.

- TMG Digital

subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now