South African hip-hop star and businessman Cassper Nyovest has found himself in the centre of a heated online debate following revelations surrounding the financial instability of his former business partner, Drip Footwear. The renowned local shoe brand is reportedly facing liquidation, and Nyovest’s past association with the company has brought his business under public scrutiny.
In 2021, Cassper Nyovest and Drip Footwear made headlines with a bold announcement: a partnership deal valued at a staggering 100 million Rand. The collaboration was seen as a groundbreaking agreement for a Black-owned business. However, the partnership’s rapid descent into financial woes has led to criticism directed at Nyovest.
Financial Woes: Drip Footwear’s 20 Million Rand Debt
The recent news of Drip Footwear’s R20 million debt has sparked widespread concern and cast doubts on the sustainability of such high-profile partnerships. Critics argue that the mounting debt is evidence of poor financial management and a lack of strategic oversight. As a prominent figure in the collaboration, Nyovest’s involvement has been questioned. Many asking whether he could have done more to prevent the company’s decline.
ALSO READ: Drip Footwear Given High Court’s Order For Liquidation, Workers Left Jobless
Nyovest’s silence on the matter has done little to quell the ongoing discourse. The incident has become a trending topic on social media, where users are divided over whether to hold him accountable or to exonerate him from the company’s misfortunes.
Some detractors claim that Nyovest failed to provide adequate support to his business partner, accusing him of prioritizing personal gain over the success of a Black-owned enterprise.
However some people think that mismanagement led to the fall of Drip footwear. One user shared a screenshot of when he advised Lekau against buying many business cars at the beginning. The businessman however turned a deaf ear and ridiculed the advice.