A company at the centre of one of the biggest corruption scandals in South Africa has gone into liquidation, saying it is no longer able to do business because of the “extensive reputational damage” it has suffered.
South Africa-based Bosasa said two banks had decided to close its accounts, making it difficult to continue trading and to pay creditors.
More than 4,500 employees will be affected by the liquidation of Bosasa, now known as African Global Group.
Its former chief operating officer, Angelo Agrizzi, has made explosive allegations of corruption against the company, accusing it of paying bribes to senior government officials – including former President Jacob Zuma – in exchange for government contracts.
Mr Zuma has consistently denied any wrongdoing and is not among a group of people who have been charged with corruption, following Mr Agrizz’s damning testimony at a judge-led inquiry into corruption.
Those charged include Mr Agrizzi and former prison boss Linda Mti.