PROFESSOR DIRK KOTZE
SOUTH African president Cyril Ramaphosa’s business interests are threatening to derail his presidency and stall his economic and political reform agenda.
Ramaphosa’s reform agenda has two elements. The first is an economic reconstruction and recovery plan. This includes his latest energy plan and restructuring of Eskom, the power utility, as well as infrastructure development.
The second is to reunite the governing African National Congress (ANC) after his predecessor Jacob Zuma factionalised the party.
Both the economic and political reforms depend on his credibility and his success in overcoming resistance to his agenda. But a number of controversies relating to his business interests have raised questions about his credibility.
The Phala Phala controversy – regarding the theft of foreign currency from his Phala Phala farm in 2020 – is the latest complication caused by his relationship with the private sector. Opposition parties have latched on to it, calling for his impeachment by parliament.
It could be argued that Phala
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