Bosasa, now known as African Global Operations, has previously been named as a benefactor to several other high-profile ANC figures.
The integrity committee, an internal ANC structure led by party veterans, has been set up to ensure that its cadres accused of corrupt practices or for having brought the organisation into disrepute, account for their actions.
But he later admitted it was a donation towards his own campaign a year ago to become leader of the ruling ANC party, a hard-fought battle in which he beat Mr Zuma's chosen candidate.
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According to the president's campaign team, Ramaphosa was neither part of fundraising, nor did he have a record of who made donations.
Maimane posed the question about the payment during a Q&A session in Parliament.
Spokesperson Pule Mabe said, "The president has demonstrated greater accountability and transparency to the people of this country that as soon as he became aware of this matter, he then went out to state those in the public".
Ramaphosa's answer isn't good enough, according to DA leader Mmusi Maimane.
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On Saturday, AFP news agency reports, ANC spokesman Zizi Kodwa told state media the president had "decided voluntarily that he will pay back the said amount".
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However Maimane said he was not convinced by Ramaphosa's explanation.
She said: "This has severe and serious implications for the ANC".
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Booysen said the passage of legislation to ensure that all political party funding came under legal scrutiny was crucial.