Bosasa warns of potential job losses following voluntary liquidation

Bosasa has warned its decision to file for voluntary liquidation could result in more than 4,000 employees losing their jobs.

The company, now known as African Global Operations, has been informed that all banks will close down its accounts.

Bosasa former executives have told the state capture commission how the company paid millions of rands to government officials to secure lucrative contracts with the state.

In a statement, Bosasa says the impact of its closure will have far-reaching implications not only on employees but on their families and on township projects.

“In South Africa, every employed person supports about five other people and the African Global Group has in excess of 4,500 employees; resulting in 25,000 people being impacted by the possible loss of employment. The potential termination of 108 unemployed black youth that is currently on learnerships and internships, who through this initiative are receiving a monthly stipend whilst