January 8 statement the only item on agenda for ANC NEC meeting

Ivan Schwartz
January 14, 2018

South Africa's President Jacob Zuma has relented to calls to set up a commission of inquiry into corruption allegations at the heart of government - known as state capture.

ANC Secretary-General Ace Magashule told reporters at a break in the meeting that the only item on the agenda was the statement to be read by Ramaphosa on January 8 to mark the 106th birthday of the ANC.

Zuma's detractors say that his continued tenure as state president will severely hamper the ANC's efforts to decisively win the 2019 elections.

The South African delegation will comprise Ministers and business leaders, with the Minister of Finance, Mr. Malusi Gigaba as the lead Minister and coordinator.

The currency slipped more than a percent, to R12.55 to the dollar by midday, before recovering slightly to R12.46 by 14h30.

Deputy President Cyril Ramaphosa, 65, who styled himself as a reform candidate, last month narrowly won the leadership of the ANC over Zuma's ex-wife and is the country's likely next president.

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She said that if Ramaphosa was truly serious about rooting out corruption‚ Zuma would no longer be the president of South Africa.

The ANC's top decision makers also meet this week, and Zuma's recall is expected to be on the agenda.

"We believe that the rand's rally is looking overstretched given that South Africa's idiosyncratic risks did not end with Ramaphosa's victory".

At least two NEC members told News24 that Zuma's fate was not discussed during the short special NEC meeting ahead of the party's birthday celebrations on Saturday.

Meanwhile, in equities, the benchmark JSE Top40 index slipped 0.03% to 53167.96 points while the broader all share index declined 0.22% to close at 59979.63 points.

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