President Cyril Ramaphosa's closest allies are meeting at his Cape Town office, Tuynhuys, after he told his allies he was not opposed to resigning. 

In the immediate aftermath of a Section 89 panel report, top party leaders have been frantically grappling with what it means for Ramaphosa.

"He said he is ready to leave," a Cabinet minister said on Thursday morning.

The panel found that Ramaphosa may have violated the Constitution and anti-corruption laws in his Phala Phala dealings.

Ramaphosa is said to have told those closest to him that the report by the panel, led by former chief justice Sandile Ngcobo, was flawed in law, but he is not expected to put up a fight at a looming African National Congress (ANC) national executive committee (NEC) meeting on Thursday evening.

Ramaphosa was locked in talks with his advisors and allies at his office in Cape Town on Thursday.

Two top ANC leaders told News24 that Ramaphosa would decide on a course of action before the NEC meeting.

"He will not wait for the NEC to determine his fate," the source said.

Ramaphosa is under immense pressure following the release of the report by the independent panel, which made damning findings against him in relation to the theft of $580 000 (R10-million) from his game farm, Phala Phala, in Limpopo.