South Africa’s National Prosecution Service has officially acquitted President Cyril Ramaphosa of corruption and money laundering charges linked to the theft of $500,000 from his private cattle ranch in 2020.
The case was brought by South Africa’s former spy chief Arthur Fraser, who filed charges against Ramaphosa in June 2022.
Fraser accused the president, who has been in power since 2018, of violations of income tax law and exchange control regulations. He alleged Ramaphosa hid proceeds from the sale of cattle to a South Sudanese businessman in cash in a mattress and sofa on his farm in northeastern Limpopo province.
The affair almost led to Ramaphosa’s resignation at the end of 2022.
The successful businessman and multi-millionaire was initially seriously implicated by a parliamentary investigation report. However, in a vote on impeachment at the request of the opposition, the majority of MPs voted against such a procedure.
According to independent legal experts, the report was largely based on unverified information.
South Africa’s judicial oversight body had already cleared Ramaphosa of any wrongdoing in November 2023. They said the president had declared his finances legally required.
The then 71-year-old had also immediately reported the theft to the police, they said. Nevertheless, the prosecuting authority continued with the investigation. The $500,000 is still missing.