21 February 2019

South Africa: Liquidator Moves to Secure Documents, Computers At Bosasa Head Office

Photo: Bosasa

Within hours of being notified of his appointment as a liquidator for the Bosasa group of companies, a Johannesburg based insolvency practitioner has moved to secure documents and computers at the Krugersdorp head office of the company.

He confirmed to News24 that he was notified by the Master of the Gauteng High Court in Johannesburg on Thursday afternoon that he would be appointed to oversee the winding up of the company and around 10 of its subsidiary entities.

He then moved swiftly on Thursday afternoon to secure the premises as well as documents and IT equipment, including computers, in what is likely to be a crucial move as he sets about his work in the coming weeks.

The identity of the liquidator is known to News24.

It is also the first significant step taken to secure Bosasa's records.

On Monday, Bosasa announced that the closure of its bank accounts had led to the decision to place the company under voluntary liquidation.

No action from law enforcement

First National Bank wrote to the company earlier this month to notify the directors it would be ending its relationship with Bosasa, with facilities being shut down by February 28, 2019.

The company is now known as African Global Operations.

Bosasa and various directors of the company have been put under the national spotlight following damning testimony of grand corruption spanning nearly two decades by former Bosasa chief operations officer Angelo Agrizzi before the Zondo commission into state capture.

Agrizzi revealed how Bosasa bribed government officials and political leaders for years to score multibillion-rand tenders.

Despite this testimony, law enforcement agencies are yet to move to conduct any form of search and seizure operation.

A tip-off in January led News24 to believe that documents were being destroyed at Bosasa offices. At the time, Bosasa spokesperson Papa Leshabane did not explicitly deny the claims, but responded by asking News24 to explain "who was shredding, what documents and where".

This is a developing story.

Source: News24

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