Bosasa liquidator Cloete Murray says they are bound to investigate the R2m paid to Ramaphosa’s son, Andile
Bosasa’s liquidators have confirmed that they will investigate the R2m paid by the group to President Cyril Ramaphosa’s son Andile — and will seek to recover that money if the payment is found not be justified.
In a deal signed in December 2017, when Ramaphosa won the ANC's leadership battle, Andile Ramaphosa's Blue Crane Capital received a contract from Bosasa with a monthly retainer fee of R150,000 for"advisory" services, News24 reported. That amount was later increased to R230,000. Payments shown not to have added any value to the company under liquidation fall within that definition, which enables liquidators to “take steps to set aside such transaction and recover the monies from the beneficiary of the transaction”, Murray says.The Johannesburg High Court last week gave Bosasa’s liquidators leave to appeal a ruling that reversed the group’s liquidation. That means that the liquidation process will continue, pending a ruling on its legality by the Supreme Court of Appeal.
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