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

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

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.

PAY ATTENTION: Do you want to know what's trending on Briefly.co.za? Join our WhatsApp group today.

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.

READ ALSO: ANC announces it will use crowdfunding to raise election money

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.

READ ALSO: 15 Memorable Photos From The Amazing Baby Shower Of Meghan Markle

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.

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!

Source: Briefly.co.za

Related news
Brian Molefe biography, scandal, net worth, and wife

Brian Molefe scandal and his resignation from Eskom

Brian Molefe biography, scandal, net worth, and wife
Briefly.co.za
Mailfire view pixel