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'Favours cost me R46m
The Citizen
|March 11, 2025
Businessman Borde-Kuofie 'possibly hoped for govt deals'.
Johannesburg businessman Devesh Naidoo claims he was defrauded of R46 million by Ghanaian-born UK citizen Frederick Kevin Borde-Kuofie, who allegedly sought political favour by supplying political parties with T-shirts and paraphernalia ahead of the 2024 general election.
Through his Hyde Park-based HSFC Financial Services, Borde-Kuofie placed orders for nearly half-a-million ANC T-shirts and smaller campaign orders for Build One South Africa (Bosa).
A large set of banners, gazebos, and other merchandise for the Umkhonto weSizwe party (MK) was scrapped when Borde-Kuofie failed to provide funds.
Naidoo said he pushed for payment of the lucrative order as production deadlines loomed.
"Borde-Kuofie blamed the South African banking system, claiming racism played a role. He said it was delayed because he was black," Naidoo said.
"He kept saying if we were in London, it would work like clockwork."
This story is from the March 11, 2025 edition of The Citizen.
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