Andile Ramaphosa has taken to social media to explain where and how the R2 million his company received from controversial company Bosasa, now known as Africa Global Operations, came from.
Last week, Andile Ramaphosa admitted to News24 that Bosasa paid his company Blue Crane Capital the money as part of a business deal, which he now regrets.
Ramaphosa had said that in hindsight, due diligence was not sufficiently carried out.
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 categorically state that it was not a gift or a favour…”
Ramaphosa explained how, during a particular period during the company’s growth, more clients, work and employees were brought on board to work on internet service provider and other projects and it became necessary to get more resources.
“We required more resources and then, that’s sort of when our retainer kicked in and we worked together from that point on.
“We have already completed, projects. So, we have solar projects that we’ve completed for a large oil giant in terms of the rollout of their petrol stations through Kampala [Uganda] and incurred costs in terms of that whole process, and obviously, we have to find a new partner because of what’s occurred.
“The R2 million that was received by Blue Crane through the period of the 12 months was deployed towards resourcing of these projects. It was money that was utilised towards the implementation of at least the first project as well that we actually delivered. So, these monies, there’s tangible results of what we’ve done.”
Watch the video below.