Published: Fri, January 12, 2018
World | By Paul Elliott

Rand reacts to rumours of Zuma stepping down

Rand reacts to rumours of Zuma stepping down

The new African National Congress (ANC) national executive committee (NEC) met for the first time on Wednesday in East London, where the party's annual 8 January celebrations will be held. 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.

Zuma's announcement comes the day before parliament is to take up a draft of a process for removing the nation's president from office.

"It is quite clear that Ramaphosa is not equal to the task of getting rid Zuma as the majority of the ANC is still made up of corrupt and selfish leaders who put filling their own pockets before the needs of the people‚" Van Damme said.

Fick said it is unlikely that the ANC would take the bold step of letting Zuma be removed through a parliamentary process should he refuse to adhere to a party process.

Zuma, however, has shown no intentions of resigning.

Zuma may have warded off an ouster bid by agreeing to the establishment of a commission headed by a judge nominated by Chief Justice Mogoeng Mogoeng to investigate the claims that the Guptas had wielded undue control over the state.

Zuma previously appealed a court ruling ordering him to initiate the inquiry as directed by the nation's graft ombudsman, despite the ANC adopting a resolution that the investigation should proceed.

Disgruntlement with Zuma's rule caused support for the ANC to fall to a record low in the 2016 municipal elections and cost it control of Johannesburg, the economic hub, and Pretoria, the capital.

President would be discussed, the official period in office will end in mid-2019.

At 0645 GMT the rand was 0.4 percent weaker at 12.3525 per dollar compared to a close of 12.3050 in NY on Friday.

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