Amid mounting pressure for him to step down, President Cyril Ramaphosa is not panicking.

This is according to his spokesperson, Vincent Magwenya, who addressed the media on Thursday evening.

"Due to heightened expectations, The president appreciates the urgency of the issue. The president also appreciates the enormity of the issue and what it means for the country and the stability of the country.

"He is still processing the report and engaging a number of role-players of the governing party and the alliance. He is engaging a broad range of stakeholders," Magwenya said.

Magwenya said the country was in an unprecedented and extraordinary moment as a constitutional democracy as a result of the report.

"Whatever decision the president makes, that decision needs to be in the best interests of the country. It cannot be rushed or taken in haste," he said.

Magwenya apologised for the impression created that Ramaphosa would be addressing the nation on Thursday.

Earlier, News24 reported that Ramaphosa's closest allies met at his Cape Town office, Tuynhuys, after he told his allies he was not opposed to resigning.

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

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.

The independent panel was led by former chief justice Sandile Ngcobo, and was appointed by Speaker Nosiviwe Mapisa-Nqakula.

Ramaphosa failed to convince the panel that he had acted in accordance with the law and the Constitution after the burglary and theft, and could face an impeachment investigation by lawmakers.

The four charges include three instances in which Ramaphosa violated the Constitution for continuing to be engaged in paid work outside his duties as a member of the Cabinet and for acting inconsistently with his office by asking his head of security, Major-General Wally Rhoode, to investigate the matter.

MPs are expected to vote on Tuesday on whether or not to adopt the report.