Cape Town – The South African Reserve Bank (SARB) is facing criticism from the Economic Freedom Fighters (EFF) party for allegedly covering up the Phala Phala investigation.
The EFF, led by Julius Malema, plans to challenge the report through a judicial review, aiming to hold SARB accountable for its findings.
Malema announced this on Sunday while addressing the media on the outcomes of its central command team’s (CCT) meeting on Friday and Saturday.
The report in question involves President Cyril Ramaphosa and the Phala Phala transaction, which the SARB found to be unauthorised and incomplete.
“The CCT engaged in these critical matters taking into cognisance the fact that in South Africa, state institutions are being abused in protection of one individual, a compromised head of state who is also a money launderer.
[WATCH] “We reject with contempt the SARB’s cover-up of the Phala Phala crime. We will take the SARB’s report into Phala Phala dollars to court for judicial review.” – EFF President Julius Malema, addressing the media on the outcomes of the CCT meeting. #EFFPresser pic.twitter.com/gfNGlPM1P8
— Newzroom Afrika (@Newzroom405) August 27, 2023
“We reject with contempt, the South African Reserve Bank’s cover-up of the Phala Phala crimes and unlawful smuggling and usage of foreign currencies.
“We will take the South African Reserve Bank report on Phala Phala dollars to court for a judicial review because there is evidently an attempt to cover up the crimes committed in Phala Phala and state institutions are being abused in protection of the outgoing president of South Africa.”
The EFF joins other parties like the UDM and DA in demanding answers and seeking access to the report using the Protection of Access to Information Act.
Malema asserts that there were alleged crimes committed at Ramaphosa’s farm and accuses state institutions of protecting him.
The matter is set to be debated in Parliament, with the EFF insisting on legal resolution and rejecting the alleged cover-up.
The Public Protector previously cleared Ramaphosa of wrongdoing, but the report’s validity is being challenged by other parties such as the ATM.
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Picture: Twitter/@PresidencyZA
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Compiled by Betha Madhomu
