Andile Ramaphosa hires law firm to review business relationships
It appeared the move may be an attempt to come clean after he recently admitted to receiving R2 million in a deal with the company formerly known as Bosasa.
JOHANNESBURG - President Cyril Ramaphosa’s son Andile has announced he has hired a law firm to review his business relationships and improve his risk management.
It appeared the move may be an attempt to come clean after he recently admitted to receiving R2 million in a deal with a company formerly known as Bosasa.
Ramaphosa junior started using his Facebook page as part of a public relations drive.
He's claimed in a video that the money from Bosasa was neither a gift nor a favour, insisting it was legitimately earned.
In his latest statement issued on social media, Ramaphosa said he had taken to heart the impact his relationship with Bosasa had on the integrity of his business, his credibility as a businessman and his trustworthiness as a citizen.
Ramaphosa said he appointed a law firm to conduct due diligence investigations on all his previous and current business partnerships.
However, the statement appeared to be a pre-emptive move to distance himself from a former business partner who’s been mentioned at the Zondo Commission of Inquiry.
Ramaphosa revealed that he had a business relationship with Jianbao Chen, the chairman of Chinese company Huarong Energy Africa, but he said their relationship ended in May last year.
The Zondo Commission has heard how Huarong allegedly gave Eskom a R25 billion loan without the power utility follow the correct procedures.