19 February 2019

South Africa: Bosasa Folds Before It Could Take Down the ANC

Photo: Bosasa
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analysis

The curtain was finally brought down on Bosasa's corruption enterprise as the company announced it was going into liquidation after News24 reported that both FNB and ABSA are closing the company accounts, as well as the accounts of the whistle-blower and former bag-man Angelo Agrizzi.

For nine days in January and February 2019, Angelo Agrizzi exposed the empire of corruption that Bosasa had built and which reached high, and deep, into the ANC. FNB told Bosasa it would close all accounts, by the end of February, of the facilities management company now known as Africa Global Operations. ABSA hosts Agrizzi's trust accounts and it's shutting those, according to News24.

As with the Gupta family's corporate empire, once the four big banks terminated their facilities, it was the end for the Watsons. Without banking facilities, no company can survive in a modern economy.

On Sunday, Agrizzi told Rapport that he had only revealed 20% of what he knows at his testimony before the Zondo Commission of Inquiry into State Capture.

That percentage of information had pointed the finger of corruption at two Cabinet ministers (Mineral Resources Minister Gwede Mantashe and Environment Minister Nomvula Mokonyane) and the ANC MP Vincent Smith, all...

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