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Outa, DA welcome liquidation of African Global Operations

The firm, formerly known as Bosasa, announced on Monday it had opted for voluntary liquidation after banks announced they would close the company’s accounts, citing reputational risk.

Picture: .africanglobal.com

PRETORIA - The liquidation of embattled firm African Global Operations has been broadly welcomed despite the potential loss of more than 4,500 jobs.

The firm, formerly known as Bosasa, announced on Monday that it had opted for voluntary liquidation after banks announced they would close the company’s accounts, citing reputational risk.

The company has been at the centre of explosive state capture allegations surrounding dodgy tenders worth billions of rand.

The Organisation Undoing Tax Abuse (Outa) says it believes the action taken by the banks against African Global Operations, similar to the action taken against Gupta linked companies two years ago, sends a consistent message to companies involved in corruption and money laundering.

Outa says it is sympathetic to the 4,500 staff whose jobs are on the line.

Police and prisons union Popcru welcomed this latest development, saying the Correctional Services must now try to recover funds from the company.

The Democratic Alliance says that all government contracts with the company must be audited or cancelled with immediate effect.

Meanwhile, several departments with those contracts have initiated emergency plans in the event all services cease at the end of this month.

(Edited by Shimoney Regter)

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