Andile Ramaphosa cuts ties with implicated Chinese businessman
President’s son also hires law firm to review his business partnerships
In a bid to clean up his image, businessman Andile Ramaphosa‚ son of President Cyril Ramaphosa‚ has cut ties with a Chinese businessman implicated in state capture allegations. Ramaphosa said on Monday that he had also hired a law firm “to assist with the review process which will carry out due diligence investigations on all my previous and current business partnerships and to devise a risk management framework going forward to identify and eliminate unethical and potentially questionable relationships”. He cut ties with Jianbao Chen‚ chair of Chinese company Huarong Energy Africa‚ after the company was alleged to have given Eskom a R25bn loan without the power utility following due processes. Andile said their relationship dates back to January 2018 when his Blue Crane Capital partnered with Chen to form the company Blue Tree International‚ noting that the partnership was formed to acquire a majority shareholding stake in Mercantile Bank‚ which was up for sale at the time. Andile ...
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