The state capture commission on Tuesday heard more revelations of how Bosasa exchanged money with companies and operated as a bank so it could stockpile millions in cash on its premises to pay bribes.
Former Equal Trade 4 Gregory Lawrence has testified that the company, which distributes food and alcohol, always supplied cash to Bosasa.
Former Bosasa executive Angelo Agrizzi previously testified that the company laundered money and kept it in vaults at the company’s premises and used it to pay bribes of up to R6 million a month.
Agrizzi previously told the commission that Bosasa used various mechanisms to launder money before using it for corruption and bribes.
He explained the company, now known as African Global Operations, would invoice for goods that would not be delivered.
It would pay for the goods via electronic funds transfer (EFT), only for that money to be returned to Bosasa in cash.
Lawrence confirmed this, saying he used to personally deliver cash from Equal Trade 4 to Bosasa.
“It normally was pretty much a large amount of [money]… I might have delivered, if I remember correctly, maybe R800,000 or R1 million.”
He showed the commission several videos of cash being stacked in a box and being delivered at Bosasa’s premises.
Lawrence explained that by receiving EFT payments form Bosasa and returning the money back in cash, his company saved on costs.