LIVE | Phala Phala fallout: Ramaphosa will make announcement in due course - Gungubele
The rand is down 0.9% to the dollar since the report was released - dropping to R17.15. However the fall in relation to the pound has been much steeper - falling 1.6% to reach R20.60.I have reached out to some of Ramaphosa's closest allies who have expressed absolute shock at the findings of the Section 89 Panel. One close ally said:"things just got real".There appears to be no clarity yet on the way forward and for now they are grappling with how Ngcobo came to his conclusions.
“The conclusions of the panel require careful reading and appropriate consideration in the interest of the stability of government and that of the country,” the statement read. Furthermore, Ramaphosa’s office is giving consideration to the report and an announcement will be made in due course.Minutes after the independent panel's report on the Phala Phala matter was published, presidential spokesperson Vincent Magwenya's media engagement, scheduled for Thursday, has been cancelled.
The independent panel appointed by National Assembly Speaker Nosiviwe Mapisa-Nqakula to investigate whether there was any evidence of wrongdoing on President Cyril Ramaphosa's part in the Phala Phala saga has said there exists “prima facie” evidence that he breached anti-corruption laws.
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