Andile admits Bosasa paid him R2m for a business deal
President Cyril Ramaphosa’s son has reportedly admitted that Bosasa paid him R2 million for a business deal which he says he now regrets.
Andile Ramaphosa has told News24 that, in hindsight, due diligence was not sufficiently carried out by his company Blue Crane Capital in retrospect of his father’s role going into the presidency.
The company was contracted to carry out advisory work for some government departments and private companies in Uganda and Kenya.
Ramaphosa’s son admitted to News24 on Monday that his company signed an “advisory mandate” in December 2017 with Bosasa, now known as African Global Operations, resulting in the company receiving a monthly retainer fee of R150,000. The fee was later increased to R230,00.
On Tuesday, the facilities management company’s former auditor Peet Venter told the state capture commission of inquiry that despite the payments, no services were rendered.
Despite acknowledging that his company provided advisory work, Ramaphosa later backtracked, saying that the projects had never been properly valued.
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