Labat Africa changes auditors after reporting challenges

Labat Africa Limited has terminated the appointment of Khumalo Xaba Xulu (KXX) as its external auditors. The decision by the board of directors is effective from September 23, 2025, and follows challenges in completing the audit within required reporting timelines.

P Mapfumo Accountants and Auditors will assume the role of Labat Africa's new lead external auditors. Mrs. Phossina Kaserera will serve as the engagement partner for the audit of the company's financial statement for the year ending May 31, 2025. She will be supported by two additional IRBA registered auditors, BG Nubong and Associates Inc and MGT Accounting and Consulting Inc, and will also leverage third-party resources for specific components to meet tight deadlines.

The change complies with paragraph 3.78 of the JSE Listings Requirements and the Companies Act, No. 71 of 2008. The board extended its gratitude to Khumalo Xaba Xulu (KXX) for their services. The announcement was made from Johannesburg on September 26, 2025.