"It was not a gift or a favor"


Last week, the son of President Cyril Ramaphosa admitted that Bosasa paid his company, Blue Crane Capital, the money as part of a deal, which he now regrets.

A YouTube screenshot of President Cyril Ramaphosa's son, Andile.

JOHANNESBURG – Andile Ramaphosa became involved with social media to explain where and how the R2 millions of his company received from the controversial company Bosasa, now known as Africa's Global Operation, have come.

Last week, Ramaphosa admitted to News24 that Bosasa paid its Blue Crane Capital company money as part of a deal, which it now regrets.

Ramaphosa said that, in retrospect, due diligence was not sufficiently achieved.

In a video posted on his new Facebook page, he explains further.

"It was not money that was for me, it was money for the business … I want to state categorically that it was not a gift or a favor …"

Ramaphosa explained how, during a specific period during the company's growth, more clients, work and employees were hired to work in Internet service providers and other projects and it became necessary to obtain more resources.

"We needed more resources and then it was when our team came into action and we worked together from that point on.

"We have completed the projects so we have solar projects that we have concluded for a major oil giant in terms of launching its gas stations through Kampala [Uganda] and costs incurred in terms of this whole process and obviously we have to find a new partner because of what happened.

"The $ 2 million that was received by Blue Crane over the 12-month period was deployed to fund these projects. It was the money that was used to implement at least the first project as well as what we actually delivered. money, there are tangible results of what we have done. "

Watch the video below.


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