Business Maverick: Ramaphosa Allies Rally Behind Him as ANC Discusses His Fate

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South African President Cyril Ramaphosa’s allies closed ranks behind him as the governing party’s top leaders consider how to respond to an independent panel’s findings that there may be grounds for his impeachment. The rand rallied and government bond ...

Key supporters met on Thursday night to hammer out a plan to keep Ramaphosa from resigning over his handling of a robbery at his game farm in which the president saidwas stolen. Despite the panel’s findings that Ramaphosa may be guilty of serious misconduct and had a case to answer, there was no indication that he abused public funds, which should count in his favor, according to two of those who attended the meeting and spoke on condition of anonymity because they aren’t authorized to comment.

“He is more popular than the party,” Godongwana said in an interview with Bloomberg TV. “My prayer for now is that he remains.” Investor concern that Ramaphosa might step down over the scandal triggered the rand’s worst one-day loss since May and the biggest selloff of government bonds since 2015 on Thursday.

Officials who sit on the ANC’s National Executive Committee adjourned a meeting on Friday after former President Thabo Mbeki raised objections to Ramaphosa’s absence, according to two people who attended the gathering and declined to be identified as they’re not authorized to comment. The panel’s discussions are expected to continue on Sunday.

 

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Reminds me of 94 year old Mugabe and people around him who did not want him to resign because they were benefiting. Our African leaders though

Those supporting the President and those opposing him are thinking about their supper not about the issues at hand nor the socioeconomic challenges facing SA

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Daviddivinity Facts don't cease to exist just because they are ignored. But Stratcom , racists and clever blacks will disagree. Hope you understand

😂 He will fall, he is going to fall. You are all just postponing the inevitable.

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