For Creamer Media in Johannesburg, I’m Thabi Madiba.
Making headlines: Ramaphosa's allies believe they have the numbers to mount a fightback at NEC meeting, JSE and rand steady after Thursday's turmoil and, Corruption Watch urges swiftness in dealing with outcomes of Phala Phala report

Ramaphosa's allies believe they have the numbers to mount a fightback at NEC meeting

President Cyril Ramaphosa's allies worked on a strategy early today to mobilise ANC national executive committee members to come to his defence in an effort to halt his exit.

The president's closest allies argued that he should be defended at all costs, despite his insistence on resigning after a finding in a report by an independent panel that he may have violated the Constitution.

ANC chairperson Gwede Mantashe was said to have been among those who twisted Ramaphosa's hand and said that he could not announce his resignation without talking to the NEC first.

On Friday, Ramaphosa's allies said they would demonstrate to the NEC that the report by the panel, led by former chief justice Sandile Ngcobo, was wrong in fact and law and that the president could not resign on the basis of a "weak report".

JSE and rand steady after Thursday's turmoil

The JSE and rand were relatively steady this morning, with investors still eyeing risk events, in the form of the future of President Cyril Ramaphosa and a key US jobs report.

Local markets were pummelled on Thursday as investors digested a possible exit for Ramaphosa, generating uncertainty about the future of SA politics, and the state of the budget deficit.

In morning trade, the local currency marginally weaker at R17.55 to the dollar, but had firmed 0.27% to R21.51 to the pound.

Corruption Watch urges swiftness in dealing with outcomes of Phala Phala report

Non-profit organisation Corruption Watch is urging Parliament to act swiftly to address the Phala Phala matter, which has set off uncertainty around Cyril Ramaphosa’s Presidency.

The long-awaited report of the Section 89 independent panel, led by retired Chief Justice Sandile Ngcobo, made damning findings against Ramaphosa, who is now considering resignation ahead of the African National Congress’s fifty-fifth National Elective Conference.

Corruption Watch said on Friday that the report showed that the President had a case to answer relating to alleged contraventions of the Constitution and the Prevention and Combating of Corrupt Activities Act.

The organisation believes the report will hamper Ramaphosa’s role as President of the country, as well as damage public trust in his anti-corruption agenda.

That’s a roundup of news making headlines today
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