Ramaphosa's son, Andile, cuts ties with Chinese business partner

Ramaphosa's son, Andile, cuts ties with Chinese business partner

- Andile Ramaphosa has cut ties with a Chinese business implicated in state capture

- He is also reportedly reviewing all his business operations for potential conflicts of interest

- This comes after it was revealed that he had received R12 million from Bosasa

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Cyril Ramaphosa's son, Andile, has reportedly ended his business relationship with a Chinese businessman accused of involvement in state capture.

Jianbao Chen, the head of Huarong Energy Africa, is accused of giving Eskom a dubious R25 million loan that did not go through the proper channels.

Andile has also contracted the services of a law firm which he says is aimed at identifying and terminating any unethical or "potentially questionable" business ties he might have.

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Andile has said that he first got into business with Chen when his company, Blue Crane, partnered with Chen's company with the intention of buying a stake in Mercantile Bank. However, Andile withdrew from the deal before it was completed, according to The Sowetan.

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Briefly.co.za has gathered that Andile is now in the process of reviewing several of his business connections. This follows the revelation that he received R12 million from Bosasa, although Andile asserts that this was payment for services he rendered to the company, rather than a gift or bribe.

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Andile said that he accepted that, as the son of the president, his business dealings needed to face greater scrutiny and meet higher levels of transparency.

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Source: Briefly.co.za

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