Key insights
- South African President Ramaphosa stated he will not resign despite a court ruling, citing his intention to continue serving. He plans to review a panel's report he believes is flawed. This adds political uncertainty in South Africa, potentially impacting investor sentiment towards South African assets, with a slight negative spillover to global emerging markets.
Investing.com -- South African President Cyril Ramaphosa addressed the nation on Monday to state his position following a court ruling, saying he will not resign and intends to continue serving the people of South Africa.
Ramaphosa said he accepts and respects the court’s ruling and is mindful of the need for stability. He stated that he has not violated his oath of office and that nothing in the court ruling compels him to resign.
The president said he will take a panel’s report on review, adding that he believes the report is flawed.
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