South African president cleared of money-laundering allegations

The national prosecuting authority of South Africa has officially cleared President Cyril Ramaphosa of corruption and money laundering allegations linked to the theft of $500,000 from his private cattle farm in 2020.

The case began when former spy chief Arthur Fraser filed charges against Ramaphosa in June 2022. Fraser accused the president, who has been in office since 2018, of violating income tax laws and foreign exchange control regulations. He alleged that Ramaphosa concealed the proceeds from the sale of cattle to a South Sudanese businessman, hiding the cash in a mattress and sofa on his farm in the northeastern Limpopo province.

This situation nearly resulted in Ramaphosa’s resignation at the end of 2022. Initially, a parliamentary inquiry report severely implicated the successful businessman and multimillionaire. However, when the opposition requested impeachment proceedings, the majority of members of parliament voted against them.

Independent legal experts noted that the report largely depended on unverified information. Additionally, South Africa’s judicial oversight body had cleared Ramaphosa of any wrongdoing in November 2023, stating that the president had declared his finances as required by law. The then 71-year-old had also promptly reported the theft to the police. Despite this, the prosecuting authority continued its investigation, and the $500,000 remains missing.