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Money laundering allegation: South African president fails to resign

South African President Cyril Ramaphosa wants to remain in office despite allegations of money laundering. His spokesperson, Vincent Magwenya, told dpa yesterday. “Ramaphosa is not stepping down,” said Magwenya. A parliamentary commission of inquiry’s report that Ramaphosa violated an anti-corruption law as well as the constitution was “clearly flawed”, Magwenya said.

Ramaphosa decided to “revise” the report. Several independent legal experts have previously said the report was largely based on unverified evidence and hearsay.

South African President Cyril Ramaphosa

Portal/Maja Smiejkowska

The publication of the inquiry’s findings on Wednesday plunged South Africa’s ruling African National Congress (ANC) party into a deep crisis. Since then, Ramaphosa has been under a lot of pressure and there is speculation about his resignation.

Involved in theft?

The background to the accusations against the president is a robbery in which half a million US dollars were allegedly stolen from Ramaphosa’s private farm in 2020. Ramaphosa – a successful businessman and multimillionaire even before his term in office – had reported the theft, but not the disappearance of money.

Ramaphosa’s predecessor, Jacob Zuma, who ruled from 2009 to 2018, was forced to resign over a corruption scandal. Born out of the old freedom movement, the ANC has ruled South Africa since the end of the racist apartheid regime in 1994.