South Africa's Ramaphosa under fresh pressure to quit after court ruling
South Africa's Constitutional Court ruling reviving the Phala Phala probe has intensified calls for President Cyril Ramaphosa to step down, with opposition parties demanding an extraordinary parliamentary session on Tuesday.
The Constitutional Court's unanimous ruling found that the failure to report a $580,000 cash gift hidden at the Phala Phala farm in 2020 violated the constitution. The judgement removes a previous shield of presidential immunity in the case.
Democratic Alliance leader John Steenhuisen said: 'Ramaphosa must do the honourable thing and resign — otherwise impeachment is the next step.' The Economic Freedom Fighters (EFF) issued the same demand. Sources inside the ANC say Cyril Ramaphosa is not contemplating resignation but may reshuffle his cabinet.
The South African rand closed the week 1.8% weaker against the dollar at 19.42. The JSE All Share index ended the week 1.1% lower. Investment bank Investec warned that political uncertainty could delay medium-term investment decisions.
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