S.African president's spokesman says announcement imminent after misconduct report

South Africa's presidency will make an imminent announcement, President Cyril Ramaphosa's spokesman said on Thursday, after a panel report found preliminary evidence that Ramaphosa may have violated his oath of office and committed serious misconduct.

South Africa's presidency will make an imminent announcement, President Cyril Ramaphosa's spokesman said on Thursday, after a panel report found preliminary evidence that Ramaphosa may have violated his oath of office and committed serious misconduct. The inquiry centers on the theft of an estimated $4 million from the billionaire president's farm in 2020, which only came to light in June. The theft has raised questions about how Ramaphosa, who took to power on the promise to fight graft, acquired the cash haul and whether he declared it.

The president has denied any wrongdoing and has not been charged with any crimes. Asked by Reuters about a local media report that Ramaphosa was due to address the nation on Thursday, Ramaphosa's spokesman Vincent Magwenya said: "An announcement is imminent. ... I can't confirm the date and time, we will advise."

The rand was sharply weaker against the dollar on Thursday, extending losses from the previous day. South Africa's foreign minister called the report "a very troubling moment" in an interview at the Reuters NEXT conference, and two cabinet ministers called for Ramaphosa to resign.

The executive of Ramaphosa's governing African National Congress party is due to meet on Thursday evening to discuss the panel report, the party's spokesman has said. 

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