Andile Ramaphosa cuts ties with implicated Chinese businessman

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.

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. He added that had the bid for Mercantile Bank succeeded‚ the partnership would have resulted in him owning 13% of the bank‚ with Chen owning the majority 87%.

“The introduction to Chen came through the China Export and Credit Insurance Corporation via our China office. We were able to verify Jianbao’s legitimacy as a businessman and to ascertain his financial capability.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Andile Ramaphosa hires law firm to review business relationshipsIt appeared the move may be an attempt to come clean after he recently admitted to receiving R2 million in a deal with the company formerly known as Bosasa. Due diligence after the fact 😏 whose fulling who here? Too late Waiting For CyrilRamaphosa to take Andile to police. Or is that just another Lie under the NewDawn namesake MYANC StateCaptureInquiry
Source: ewnupdates - 🏆 30. / 53 Read more »

Andile Ramaphosa hires law firm to probe his business partnershipsIn 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. I’m sure Ramaphosa regrets making this child 🤦🏼‍♀️ he is a problem
Source: TimesLIVE - 🏆 28. / 59 Read more »