The President of South Africa, Cyril Ramaphosa, could resign in the next few hours for having violated South African anti-corruption laws in the trafficking of foreign currency. Ramaphosa hid around four million dollars in the upholstery of a sofa at his property in Phala Phala.

The accusation was made by former South African intelligence chief Arthur Frase in 2020. Cyril Ramaphosa is accused of money laundering and violating foreign currency control laws.

In its report, released on Wednesday (30.11), the parliamentary committee raised questions about where the money came from and why it was hidden from the financial authorities, also pointing to a potential conflict between the president's business and the interests of the state.

Ramaphosa denied any misconduct, insisting that the money came from the sale of animals from his farm, but opposition parties and Ramaphosa's internal opponents in the African National Congress (ANC) party called for his resignation.

The party met this Thursday to decide on Ramaphosa's future. It expects the decision to be announced in the next few hours. The President of South Africa intends to run again for the leadership of the party soon and of the country in 2024.

MPs are due to debate the parliamentary committee's report on Tuesday (06.12), and vote on possible measures to be taken, including whether the process of impeaching the President should go ahead. ANC MPs are in the majority in parliament and can reject attempts to bring down their leader. "The President is analyzing the report and an announcement will be made shortly," said Ramaphosa's office, quoted by AP. ()