United Democratic Movement (UDM) leader Bantu Holomisa says the Phala Phala Report by the South African Reserve Bank (SARB), which has cleared President Cyril Ramaphosa of any wrongdoing in its investigation, doesn’t exonerate Ramaphosa.
The Central Bank says it finds that there was no perfected transaction, and it could not conclude that there was any contravention of the Exchange Control Regulations by Ntaba Nyoni Estates or by the President.
Holomisa says they utterly reject the report.
“No, it’s not exonerating the president because they are still failing to table the report…this is part and parcel of what the ANC did in Parliament, refusing us to read the report of Judge Ngcobo. The Reserve Bank went on to contradict the president who confirmed the transaction and also told the world that the dollars were stolen in his farm, yet the Reserve Bank says that money doesn’t belong to the president. This is a joke; we reject that statement.”
Judicial review
Holomisa says plans of applying for a judicial review on the report are on the cards.
The Economic Freedom Fighters (EFF) and the African Transformation Movement (ATM) have also rejected the SARB findings.
The EFF labelled the report as an abuse of the SARB to exonerate the president, while the ATM said it is now convinced that Ramaphosa is being protected.
Much to be desired
Meanwhile, political analyst Khaya Sithole says the SARB findings leave much to be desired. Sithole says the statement of the Reserve Bank has left South Africans even more confused.
Sithole elaborates in the video below:
