South Africa captures three Gupta family members in raid

Pauline Gross
February 14, 2018

On Tuesday, the ANC ordered Zuma to step down as president of the country, giving him no firm deadline but saying the party was sure he would comply and "respond". It was 0.9% stronger at R11.86 at 10.45am in Johannesburg. Another party source said ANC Secretary-General and Zuma loyalist Ace Magashule had gone to see Zuma on Tuesday morning to tell him formally of the party's decision.

"There's nothing that I have done wrong", he said in an interview with the South African Broadcasting Corp.

"The rand is definitely pricing-in the removal of Zuma but it is showing some signs of rotation as the saga carries on", said analyst IG Group Shaun Murison.

Magashule said there was no date for Zuma to stand down, and added that there would be "continuing interaction" between ANC officials and Zuma.

NPR's Ofeibea Quist-Arcton says "Being the wily strategist that he is, as well as being a veteran political survivor, Zuma looks as if he's forcing the ANC to do what it doesn't want to do, join the opposition in Parliament in a vote of no confidence or possible impeachment".

Below are three possible scenarios for Zuma's departure.

This is still 1% stronger than its overnight close of R11.96 to the dollar.

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EasyEquities trader Musa Makoni expects positive sentiment to drive the local unit to below R11.80, while Investec chief economist Annabel Bishop expects the currency to strengthen to R11.70/$ on Zuma's ouster.

The National Executive Committee (NEC) of the African National Congress (ANC) convened a special meeting on Monday, 12th February 2018 at the Saint George Hotel, Tshwane.

The ruling party's decision to move against Zuma was welcomed as "long overdue" by the foundation of Thabo Mbeki, a former president who was instructed by the ANC to quit in 2008 during a dispute with Zuma, who was then party leader. "I need to be furnished on what I have done", he said. "Nobody has ever provided the reasons".

Duvenage said OUTA hoped the ANC would also get rid of a number of cabinet ministers associated with Zuma, including Mineral Resources Minister Mosebenzi Zwane, Finance Minister Malusi Gigaba and Public Enterprises Minister Lynne Brown. "We don't have a Zuma problem - we have an ANC problem".

Both Zuma and the Guptas deny the accusations.

The president argued that one reason for him to stay on was so that he could introduce SA's new leaders to colleagues from BRICS, and other African leaders.

Ramaphosa would still be entitled to a maximum of two full presidential terms after completing the remainder of Zuma's second term, which runs until the middle of next year. But he said that leaders later informed him that they had been unable to sell this "package" to the NEC.

Other reports by GizPress

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