Ramaphosa met Sarb deadline to submit Phala Phala documents – Magwenya

JOHANNESBURG – President Cyril Ramaphosa’s office has told Eyewitness News he met the South African Reserve Bank (Sarb)’s 22 September deadline to submit all required documents on the Phala Phala farm saga.

Ramaphosa had been granted two extensions by the Sarb, as it investigates allegations that millions in foreign currency had been stuffed into a sofa at his farm.

It is claimed that no notification of the money, believed to be in US dollars, was made to the reserve bank before it was stolen from his Limpopo farm.

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Ramaphosa has admitted to the burglary taking place but insists that a criminal complaint by former spy boss, Arthur Fraser, claiming he tried to cover it up was false.

As pressure mounts for the president to come clean on the Phala Phala saga, which has positioned him as a leader who undermines both the citizens he serves as well as the rule of law, some attention will now turn to the South African Reserve Bank.

His spokesperson, Vincent Magwenya, said that the documents, which were outstanding, had now been submitted to the Sarb.

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Ramaphosa has to account for the origins and transactions behind the foreign currency.

Some of the key questions he needs to answer include whether the person who paid the president had declared the foreign currency, whether the president was still within a window period to notify the bank and if it was still relevant to report it if the money had been stolen.

At the same time, a back and forth over both the answer and question session and the independent panel meant to deal with the Phala Phala saga is unfolding in Parliament.

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The Public Protector is also seized with the matter.

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