EFF statement on South African Reserve Bank’s statement on the Phala Phala investigation
21 August 2023
The Economic Freedom Fighters (EFF) notes and rejects, with contempt, the South African Reserve Bank (SARB) report on the Phala Phala investigation that seeks to exonerate Cyril Ramaphosa from financial crimes that breach foreign exchange laws.
The SARB investigation comes after the EFF demanded an investigation, and we were aware that within the current climate, there was always a high possibility that there would be abuse of the SARB to exonerate Ramaphosa.
In their pathetic and poor attempt to cleanse Ramaphosa of the Phala Phala crimes, the SARB has unwittingly confirmed our suspicions that there was never a transaction or intention to have a legal transaction. Instead, the intention was to launder money through Phala Phala, as we have consistently maintained that Ramaphosa uses his farming business as a front for money laundering.
It is common cause that foreign currency entered the shores of South Africa unlawfully because the South African Revenue Services (SARS) at the OR Tambo Airport, where the so-called businessman Hazim Mustafa came through, has no record of such foreign currency. This on its own is prima facie evidence of criminal conduct that leads to Ramaphosa.