Johannesburg - Former Gupta PR firm Bell Pottinger apologised for their involvement with Oakbay Capital as well the controversial Gupta family.
The UK-based firm came under fire when their working relationship with Oakbay was exposed, prompting them to cut ties with the company.
The PR firm in a statement, apologised to South Africans affected and said they had been misled.
"There has been a social media campaign that highlights the issue of economic emancipation in a way that we, having seen it now, consider to be inappropriate and offensive. At various points throughout the tenure of the Oakbay account, senior management have been misled about what has been done.
"For it to be done in South Africa, a country which has become an international beacon of hope for its progress towards racial reconciliation, is a matter of profound regret and in no way reflects the values of Bell Pottinger."
The company apologised to anyone impacted by this, adding that such activities should have never been undertaken.
Read the full statement here