ANC STATEMENT ON THE SARB PHALA PHALA REPORT
The African National Congress welcomes and notes the South African Reserve Bank report concerning a transaction that took place on President Cyril Ramaphosa’s private farm.
The determination by the South African Reserve Bank that President Cyril Ramaphosa did not violate any Exchange Control Regulations is unambiguous and definitive. The African National Congress expresses its satisfaction with this conclusion and anticipates that all baseless accusations will be dispelled.
The process followed with subsequent findings by the Reseve Bank vindicates our view that South Africa is a robust democracy with resilient oversight and regulatory institutions.
ISSUED BY THE AFRICAN NATIONAL CONGRESS
ANC NATIONAL SPOKESPERSON
076 891 5420
ACTING NATIONAL COMMUNICATIONS MANAGER
066 056 0911