Phala Phala: Last day for Ramaphosa to respond to Sarb

The South African Reserve Bank (Sarb) has given President Cyril Ramaphosa until Thursday, 8 September, to answer questions about the infamous Phala Phala farm heist.

The bank had initially given Ramaphosa 21 business days to respond to its questions. He was then granted another 15 working days, which makes 8 September D-day for him to respond.

Robbery ‘cover up’

Ramaphosa, who is an avid and well-known game collector and breeder of Africa’s exotic wildlife, is facing mounting pressure to open up about an alleged cover-up of a robbery that occurred on his private Phala Phala wildlife farm in 2020.

In June, former State Security Agency boss – and well-known supporter of former President Jacob Zuma – Arthur Fraser dropped a bombshell when he filed criminal charges against Ramaphosa.

According to Fraser’s 48-page affidavit, which was handed over to Rosebank Police, a domestic worker in the president’s employ on his farm had discovered an undisclosed sum of US dollars concealed in the furniture on the Phala Phala premises.

ALSO WATCH: Inside Ramaphosa’s Phala Phala’s game farm

The worker then allegedly took photographs of the cash stash and sent it to her brother, who allegedly conspired with members of a crime syndicate to rob the president.

The heist was captured by numerous CCTV cameras stationed inside and outside Phala Phala farm.

The president, who was in Addis Ababa attending an African Union summit at the time, was informed of the break-in and subsequently reported the incident to the head of the Presidential Protection Unit of the SA Police Service for investigation.

‘Perpetrators paid off’

Fraser alleges the perpetrators were caught and paid a sum of R150 000 cash each in exchange for silence, allegedly on the president’s orders.

Fraser said concealing unexplained foreign currency had serious implications relating to the laws governing foreign currency and declaring the cash to Sars.

Sarb has since asked Ramaphosa’s legal advisors to respond by September 8 (today) to requests for further information as it probes the theft of the foreign currency.

The Financial Surveillance Department (FSD), which administers exchange-control regulations, expects to proceed with its investigation once the responses are received.

Compiled by Narissa Subramoney

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