What to Watch for Next in South African President’s Cash-in-Sofa Scandal
- Ramaphosa denies wrongdoing, seeks reelection as head of ANC
- Multiple probes in robbery at president’s game farm under way
A supporter of Cyril Ramaphosa wears a flag bearing his image outside a gathering of African National Congress leaders in Johannesburg, South Africa, on Dec. 5.
Photographer: Leon Sadiki/BloombergThis article is for subscribers only.
A scandal that is testing South African President Cyril Ramaphosa’s grip on power and has roiled the nation’s bond and currency markets still has some way to run.
Ramaphosa, 70, considered resigning last week after an advisory panel issued a scathing assessment of his handling of the theft of cash that had been stuffed into a sofa at his game farm. The president later backtracked, filed a lawsuit challenging the panel’s findings and is pressing ahead with his campaign to win a second term as leader of the governing African National Congress.