Andile Ramaphosa, son of President Cyril Ramaphosa, has admitted to receiving R2 million from Bosasa for an “advisory mandate” through his company Blue Crane Capital.
In an exclusive interview with News24 on Monday, 25 March 2019, Andile Ramaphosa admitted that corruption-ridden Bosasa, now known as African Global Operations, paid him R2 million in a business deal through his company Blue Crane Capital, a deal which he now says he “regrets sincerely.” This comes after former Bosasa executive Peet Venter revealed at the Zondo commission that Bosasa CEO Gavin Watson had paid Andile a fee of R500 000 from his personal account. However, Andile revealed to News24 that the amount was much higher.
Ramaphosa admits that in December 2017, Blue Crane Capital signed an “advisory mandate” with Bosasa. The company initially received a monthly retainer of R150 000 but was later increased to R230 000. It has also been confirmed that the R500 000 fee paid to Ramaphosa was used to support his father’s CR17 campaign, which saw President Cyril Ramaphosa in as the new leader of the ruling party in December 2017.
“It was a severe oversight on our part,” he said of the glaring red flags he claimed to have missed before putting pen to paper.
“It is clear now with the benefit of hindsight that our due diligence was insufficient in retrospect of my father’s role going into the Presidency,” he said.
The Democratic Alliance (DA) has called for President Cyril Ramaphosa to testify before the Zondo Commission as this new revelation makes him complicit in the Bosasa-Ramaphosa shady dealings because he directly benefitted from the deal.
“Cyril Ramaphosa now has no choice – he must now testify before the Zondo Commission before 8 May and explain under oath the full extent of the now exposed business relationship between the Ramaphosas and Bosasa, who have made it their business to bribe ANC politicians in order to secure lucrative contracts with the government,” said DA leader Mmusi Maimane.