Zuma fate undecided as ANC NEC meeting focuses on party celebrations

South Africa's rand slips as investors book profits

South Africa's rand slips as investors book profits

South Africa's graft-tainted president Jacob Zuma has announced a probe into corruption at the highest levels of the state after parliament indicated it would this week deliberate procedures for impeachment.

Earlier in the week, three of the NEC's 86 voting members, who also asked not to be identified, said the matter would be raised.

While pundits and media speculated that Zuma's removal from office might have been on the agenda at the NEC meeting, newly elected secretary-general Ace Magashule denied this, saying the inaugural meeting of the new NEC was only concerned with party president, Cyril Ramaphosa's January 8 statement.

He said further delays in appointing the commission would make the public doubt the government's commitment to dismantling "all forms of corruption" and entrench "the perception" that the state has been captured by private interests.

A statement released by the Presidency Republic of South Africa on Tuesday stated the two Presidents will meet at Dr. John Dube residence in Durban. "His hand has been forced", said Mmusi Maimane, the leader of the main opposition Democratic Alliance, reported ABC News.

"We believe that the rand's rally is looking overstretched given that South Africa's idiosyncratic risks did not end with Ramaphosa's victory".

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.

In his goodbye speech as ANC leader last month, the 75-year-old Zuma acknowledged "failures" that have threatened the party's future and said greed was posing a serious threat.

"Attacks on President Jacob Zuma have never been attacks on him as an individual, but they are particularly driven by the intention to divide the African National Congress".

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