President Ramaphosa’s eldest son in debt of R1. 8 million

President Cyril Ramaphosa’s eldest son, Andile Ramaphosa is reportedly in debt of R1.8 million. Andile is now at risk of losing his house and car after failing to make the monthly repayments.

The president’s son was implicated in the Bosasa corruption scandal where he admitted, in 2019 that he received R2 million.

According to a report in Sunday World, Andile was taken to court by Standard Bank last week after failing to honour his repayment agreement.

The bank is determined to move ahead with plans to attach his BMW 650i and put Andile’s Edenvale mansion up for auction.

Details around Andile’s debt include a R1 million vehicle-asset finance (VAF) from the bank. Andile was to pay R13 400/month over 72-months.

However, he defaulted on the payments and is in arrears of R86 000.

As per the Sunday World report, he failed to pay for 6-months and by October 2021 was owing the bank over R86 000 including interest.

Last month, the bank had terminated his contractual agreement and Andile was ordered to hand over his car.

Ramaphosa’s eldest son received R230 000 a-month in a deal his company signed with the Bosasa group in December 2017

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