Zondo Commission: Cash is king in Bosasa's industrial-scale corruption

Loading player...
Sustaining a criminal enterprise requires lots of cash to pay bribes. The Zondo Commission report details how controversial facilities management group Bosasa, almost turned getting their hands on cash into a full-time gig, paying almost R76m to South Africa's corrupt over 16 years.The third tranche of findings to come out of the State Capture Inquiry is divided into four volumes and deals exclusively with various aspects of Bosasa's alleged criminality. In total, the third volume is close to a thousand pages, making it impossible to digest into one explainer piece.Between 2000 and 2016, Bosasa would rake in over R2.3bn in tenders. According to Bosasa's former Chief Operations Officer, Angelo Agrizzi, the company paid out millions in bribes to government officials, ANC heavyweights and functionaries within state-owned entities.In part one of this explainer series on Bosasa, the vast majority of evidence you’ll hear comes from Agrizzi. He spent more time on the stand at the inquiry than any other witness - a total of 13 days. Inquiry Chairperson Raymond Zondo ultimately found that Agrizzi’s evidence is corroborated in various respects by the testimony of other witnesses, documentary and video proof.For the video version of this explainer click here. Learn more about your ad choices. Visit megaphone.fm/adchoices
13 Apr 2022 12PM English South Africa Investing · Business News

Other recent episodes

He built a $1.5bn bank. Now Revolut, Discovery Bank and PEP are circling

In this interview with Irakli Rekhviashvili, Tyme Group co-founder Coenraad Jonker gives his take on what actually protects a digital bank once the competition catches up, and why he thinks the old rules of banking no longer apply. On competitive advantage, he says: "I'm saying to my guys increasingly, I…
11 Sep 7AM 50 min

BNC#9 | Masie Q&A: Eskom's extra gigawatts are AI's gateway into SA economy

Stafford Masie says the AI industry is not actually running out of electricity, it is running out of places to plug in. The real bottleneck for OpenAI and Anthropic in the United States is grid connection points that can absorb the violent power swings inference computing demands, without blowing transformers…
10 Sep 11AM 39 min