Bosasa’s Assets To Be “Sold” Next Month To Settle Its “Debt”

Bosasa's Assets To Be "Sold" Next Month To Settle Its "Dept"
A general view of the African Global Group offices in Krugersdrop / Photo file: Screengrab

Bosasa’s assets will be auctioned off one month from now to settle the obligation the company owed to creditors.

The embattled company, currently named African Global Operations and its subsidiaries, were liquidated earlier this year.

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The company has been hit by allegations of corruption, and bribery of prominent politicians in order to secure billions in lucrative contracts.

CEO Gavin Watson died in August in a car accident days before he was expected to appear at the Zondo commission of inquiry

He had been pointed by former COO Angelo Agrizzi as the mastermind behind the corruption.

Clive Lazarus, from Park Village Auctions, is in charge of the sale: “We’re selling a copper plant, about a 120 vehicles and some beautiful office furniture and house furniture.”

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Park Village Auctions also said the companies in question were Global Technology Systems (Pty) Ltd, Bosasa Properties (Pty) Ltd, Rodcor (Pty) Ltd, African Global Operations (Pty) Ltd, Watson Corporate Academy (Pty) Ltd, On-IT-1 (Pty) Ltd, Bosasa IT (Pty), Bosasa Supply Chain Management (Pty), Leading Prospect Trading 111 (Pty), Bosasa Youth Development Centres (Pty) Ltd, Black Rox Security Intelligence Services (Pty) Ltd, giving rise to the extensive variety of lots to be sold.

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