African Global (Former Bosasa) Announces Voluntary Liquidation

African global e1550479599585 - African Global (Former Bosasa) Announces Voluntary Liquidation

The African Global Group, the company formerly known as Bosasa, has announced the voluntary liquidation of the African Global Operations Group of Companies.

In a statement, the company said that it had made the decision after receiving “formal notification from our financial institution of the decision to distance itself from the group and as a result the closure of all the entities bank accounts on or before 28 February 2019”.

The company has been linked to corruption at the Department of Correctional Services. Five men, including former Bosasa COO Angelo Agrizzi who lifted the lid on the alleged corruption at the Zondo commission of inquiry into state capture, have been arrested for corruption, money laundering and fraud.

They’re accused of involvement in the misappropriation of R1.6 billion in tenders awarded to facilities company Bosasa by the Correctional Services Department.

Agrizzi claimed that Bosasa, now called the African Global Group, laundered money and used to pay bribes of up to R6 million every month.

EWN

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