Bloomberg is reporting that the President of South Africa, Cyril Ramaphosa, may resign from office soon.

This, according to the report, is a consideration the president is making over an “advisory panel’s report that found that he may have violated the constitution.”

It added that so far, the president has been locked up in a meeting with his close allies on the matter.

The president is also expected to address the nation later on Thursday, December 1, 2022.

South African news outlet, the CNBC, reported that this scandal has become known as the “Farmgate” scandal.

It added that President Ramaphosa is alleged to have covered up a $4 million theft from his Phala Phala farm in the northeast of the country in 2020.

Also, the CNBC reported that Ramaphosa is said to have delayed a planned parliamentary appearance on Thursday to consider the panel’s findings, while his spokesman, Vincent Magwenya, has also canceled a scheduled media briefing.

Meanwhile, President Cyril Ramaphosa has strongly denied the allegations, maintaining that the cash was the proceeds from the sale of buffalo.

AE/WA