South Africa: Ramaphosa Cleared in Phala Phala Saga

The South African Reserve Bank (SARB) has cleared President Cyril Ramaphosa of any wrongdoing following its investigation into the Phala Phala saga.

Governor Lesetja Kganyago published the report on the bank’s website on Monday.

The investigation was prompted by a complaint from former spy boss Arthur Fraser, who alleged that Ramaphosa failed to report the burglary at his farm, a violation of the Prevention of Organised Crime Act.

The SARB’s report said that there was no contravention of Exchange Control Regulations on the president’s part.

Acting public protector Advocate Kholeka Gcaleka previously cleared Ramaphosa of any ethical violations in relation to the theft, stating that he had reported the matter to his head of security.

This decision was challenged by the opposition, including the African Transformation Movement (ATM), who have taken the report to court.

The SARB’s investigation also found no evidence of money being declared upon entry into South Africa in connection with payments to Ramaphosa’s farm manager in 2019.

The president’s tax affairs, as well as those of his Ntaba Nyoni Estate, which surrounds Phala Phala, were deemed tax compliant.

An independent Parliamentary panel concluded that there was a case for impeachment based on the president’s conduct in the saga. However, no further action will be taken.


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