Moses Kgosana clarifies on Gupta scandal claims, quits Imperial post

Former CEO of KPMG, Moses Kgosana, has recently found himself in the midst of the Gupta scandal, stemming from his attendance at the lavish Gupta family wedding in 2013. Kgosana, who had served as Chairman of Imperial's Audit Committee, has now made the decision to step down from this position, following his withdrawal from the position of Chairperson at Alexander Forbes last month. In an exclusive interview with CNBC Africa, Kgosana sheds light on the lessons learned from the experience and addresses the current inquiries he is facing. When asked about the regret he expressed regarding attending the wedding, Kgosana emphasized the importance of being cautious when accepting invitations, urging individuals to carefully consider the parties they associate with. He clarified that he is not currently the subject of any investigations, despite an inquiry from the South African regulator ABA regarding his independence and certain emails. Kgosana also touched upon the challenges within the industry related to client relationships and the need for vigilance in such interactions. While asserting his innocence in connection to the wedding, Kgosana expressed his hope for a swift resolution to the inquiries he is facing in order to clear his name. He highlighted the support he has received from boards of other companies where he holds positions, affirming their trust in him until proven otherwise. Kgosana also disclosed that he remains on the boards of three listed companies - Masmad, AECI, and Famous Brands - all of which have been briefed on the situation. Reflecting on the broader state capture allegations, Kgosana acknowledged the truths in the claims and lamented the lack of enforcement action to address them. He stressed the importance of thorough investigations to uncover the real facts and prevent innocent individuals from bearing the brunt of such scandals. As KPMG International conducts a review into its South African units, Kgosana expressed uncertainty about the outcome but reiterated his confidence in his own actions and maintained his innocence in the matter. Despite the challenges he faces, Kgosana remains resolute in his stance and looks forward to a resolution that will exonerate him from any wrongdoing.