February 25, 2018

Main » Under pressure, South Africa's leader warns of "fake" news

Under pressure, South Africa's leader warns of "fake" news

08 February 2018

However, the opposition and some ANC cadres would like to see the state president leave office at the earliest time possible.

At 0645 GMT, the rand traded at 12.0450 per dollar, not far off its NY close of 12.0650 on Wednesday. Zuma is under growing pressure to step down in favour of his deputy and African National Congress (ANC) party leader Cyril Ramaphosa, with local media suggesting an exit deal is being hammered out. When President Zuma was elected as the president of the ANC in 2007, Kgalema Motlanthe became president of the country after President Thabo Mbeki was recalled.

In fixed income, the yield for the benchmark government bond due in 2026 was up 3.5 basis points to 8.435 percent.

A new date will be announced soon, said Mbete.

News that Zuma's State of the Nation Address has been postponed at the 11th hour, has fueled speculation that his departure may be imminent.

Clearly unaware that the NEC meeting was about to be called off‚ Mashatile told his audience that they would go to the powerful gathering to remove Zuma after he had flatly refused to resign when the party's Top 6 met on Sunday evening.

More information about Zuma's status as president will be available once "all pertinent matters" have been finalized, said Ramaphosa, who took over from his boss as party leader in December and has since delivered strong anti-corruption messages.

Both Mr Zuma and the Guptas deny any wrongdoing.

"This will enable President Zuma and myself to conclude our discussions and report back to our organisation and the country in the coming days", Ramaphosa said.

The ANC had said it would make a final decision on Mr Zuma's future at Wednesday's NEC meeting.

"President Zuma basically said to us: "I'm not going anywhere‚ I'm not convinced by you guys so I'm not going to resign".

"Unfortunately the reality caught up with them, so now the ANC is trying to take control", he said.

The 75-year-old has been South Africa's most controversial president since the end of white-minority rule in 1994, overseeing a tumultuous nine years marked by economic decline and numerous allegations of corruption. He is accused of helping the wealthy Gupta business family to illegally secure billions of rand in state contracts.

Under pressure, South Africa's leader warns of