Good morning. Here’s what you need to know today:
- Ramaphosa faces impeachment over Phala Phala saga.
- Tough political and constitutional decisions await the ANC over Ramaphosa’s fate.
- ANC NEC to convene an emergency meeting on Thursday to discuss Phala Phala report.
Impeachment Edges Closer for South Africa’s President, Cyril Ramaphosa – New York Times
It was President Cyril Ramaphosa’s worst nightmare after the independent panel investigating whether he should face impeachment proceedings over the Phala Phlala farm robbery handed over its report to parliament on Wednesday. The panel concluded that Ramaphosa should face impeachment proceedings for paid work outside his official duties, exposing himself to a conflict of interest and contravening the Prevention of Corrupt Activities Act. It’s expected that parliament will proceed with an impeachment hearing against the president, but two-thirds of MPs will have to vote against the president to remove him. Read more here. (for subscribers)
As President Ramaphosa faces impeachment, tough political and constitutional decisions await – Daily Maverick
Impeachment is not certain, and neither is a presidential resignation. There is precedent for both when President Thabo Mbeki resigned in 2008 and President Jacob Zuma faced eight failed motions of no confidence against him. It is not clear at this stage whether Ramaphosa will offer his resignation, and should he choose to stay and fight on, it appears he has enough support within the ANC that the party would be able to close ranks and protect him. Read more here.
ANC leaders call emergency meeting after damning Phala Phala report – Business Day
The 80-member national executive committee (NEC) of the ANC have scheduled an emergency meeting for Thursday evening, presumably to discuss the contents of the independent report. It’s expected that the report will be used by those in the NEC who oppose Ramaphosa to ask for the president to be recalled by the party. While the party’s own internal rules, instituted by Ramaphosa, say that if a party member is criminally charged, they must step aside. Read more here. (for subscribers)
Here’s what else you need to know today:
Eskom denies ‘inaccurate’ claims it is delaying SSA’s vetting of De Ruyter – News24
Transnet corruption: Brian Molefe, Anoj Singh, Eric Wood, Kuben Moodley, Siyabonga Gama and 13 co-accused in court – Daily Maverick
FNB Building Confidence Index shows relative stability in last quarter of 2022 – SABC News
18 days from now, crypto exchanges in SA have to start reporting dubious deals, just like banks – Business Insider
Scandal-plagued Ayo doubles dividend even as losses widen – Tech Central
Group of cane growers mulls bid for Tongaat assets – News24
China official behind strict Covid lockdowns softens stance – Daily Maverick
Bankman-Fried denies trying to commit fraud at fallen FTX empire – Daily Maverick
Stocks Rally on China Covid, Powell; Dollar Slides: Markets Wrap – Bloomberg
