Reports of corruption are embarrassing for Ramaphosa, who took over from Jacob Zuma as president more than two years ago on a promise of stamping out the graft associated with his predecessor.
“We will not allow public funds hard-earned by loyal taxpayers or donations by patriotic companies and individuals and the international community to vanish down a black hole of corruption.”
According to the local news agency Eye Witness News, the SCA ruled that Zuma’s appeal against an October decision by the Pietermaritzburg High Court had “no reasonable prospects of success”.
On the back of Zimbabwe’s MPC announcement today, one of the main issues of economic turmoil in Zimbabwe is the rife and staggering accounts of corruption at all levels of potential economic pillars. Joining CNBC Africa for more is Batanai Matsika the Head of Research at Morgan & Co.
Not one official is behind bars even though corruption in South Africa remains one of the country's biggest concerns, especially in the business sector. CNBC Africa's Karabo Letlhatlha spoke to Political Analyst, Daniel Silke about how much the business sector is desperate for President Cyril Ramaphosa to take action in this regard.
What you need to know about Angola retrieving more than $5 billion in stolen assets amid crackdown on graft
Angola has recovered more than $5 billion stolen from state coffers so far this year, both at home and from abroad amid a two-year crackdown on corruption.
Madagascar is ranked 161 among 190 economies globally in ease of doing business while reports also show corruption levels are high. To discuss what’s being done to improve the business climate, CEO of Economic Development Board of Madagascar (EDBM), Andry Tiana Ravalomanda joins CNBC Africa for more.
Office equipment for this East African country’s parliament donated by China has gone missing after being loaded onto a shipping container.