'Favours cost me R46m

Businessman Borde-Kuofie 'possibly hoped for govt deals'.

- Hein Kaiser

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."