Ramaphosa's future in balance over South Africa 'Farmgate' scandal - Reuters

CAPE TOWN, Dec 1 (Reuters) - Cyril Ramaphosa's aboriginal arsenic South African president hung successful the equilibrium connected Thursday, arsenic his bureau said it was astir to marque an announcement a time aft a sheet study found preliminary evidence helium whitethorn person committed superior misconduct.

The enquiry centred connected the alleged theft of millions of dollars of currency from the millionaire president's Phala Phala crippled workplace successful 2020, which came to airy successful June and has been dubbed the "Farmgate" scandal.

The theft has raised questions astir however Ramaphosa, who came to powerfulness connected the committedness to combat graft, acquired the wealth and whether helium declared it.

The president has denied immoderate wrongdoing and has not been charged with immoderate crimes.

The rand fell much than 4% against the dollar earlier paring losses, and South Africa's sovereign dollar bonds dropped sharply connected speculation Ramaphosa would permission his post.

The country's biggest absorption party, the Democratic Alliance, has called for an aboriginal predetermination and the study has plunged the governing African National Congress (ANC) into crisis.

It besides threatens Ramaphosa's efforts to rekindle capitalist assurance successful Africa's astir industrialised economy, aft a decennary of corruption scandals nether erstwhile president Jacob Zuma.

The ANC said its enforcement committee would conscionable to sermon the sheet study connected Friday morning, delaying an earlier program to conscionable connected Thursday.

Asked by Reuters astir a section media study that Ramaphosa was owed to code the federation connected Thursday, Ramaphosa's spokesperson Vincent Magwenya said: "An announcement is imminent. ... I can't corroborate the day and time, we volition advise."

South Africa's overseas curate Naledi Pandor called the panel's study "a precise troubling moment" successful an interrogation astatine the Reuters NEXT conference, and 2 furniture ministers called for Ramaphosa to resign.

A spokesperson for elite constabulary portion the Hawks said its probe into the theft astatine Ramaphosa's workplace was continuing, portion the cardinal slope said it did not remark connected speech power investigations.

RESIGNATION CALLS

The ANC is acceptable to clasp an elective conference aboriginal this period that volition determine if Ramaphosa gets to tally for a 2nd word connected the ANC summons astatine a 2024 election.

"I deliberation the president has to measurement speech present and reply to the case," Nkosazana Dlamini-Zuma, Zuma's ex-wife, who narrowly mislaid the ANC's 2017 enactment contention to Ramaphosa, wrote connected Twitter precocious connected Wednesday.

Tourism Minister Lindiwe Sisulu, who has campaigned to beryllium elected ANC person this month, wrote: "CR MUST RESIGN NOW!"

Ramaphosa delayed a scheduled quality successful parliament to reply questions from lawmakers connected Thursday, asking the chairperson of parliament's precocious location for clip to "carefully see ... the adjacent people of enactment to beryllium taken," a connection from parliament said.

The panel's recommendations are not binding connected parliament, which is acceptable to statement the study connected Dec. 6 and wherever the ANC holds a bulk of seats.

If lawmakers determine to forge up with an impeachment process, the adjacent signifier would beryllium the instauration of an impeachment committee with acold greater powers - including that of subpoena - than the sheet of experts appointed by the speaker.

That committee would person the powerfulness to urge Ramaphosa beryllium removed from office, a determination which parliament would past person to take.

Roelf reported from Cape Town and Winning from Johannesburg; Additional reporting by Bhargav Acharya and Tim Cocks successful Johannesburg Editing by Olivia Kumwenda-Mtambo, James Macharia Chege, Mark Heinrich and Andrew Heavens

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