The EFF has declared its intention to challenge the findings of the Reserve Bank’s Phala Phala report through a judicial review.
The move comes on the heels of the bank’s exoneration of President Cyril Ramaphosa from any wrongdoing in connection with the theft of foreign currency from his farm in 2020.
The report sparked a fierce backlash from the EFF and several other opposition parties last week.
Addressing the media in Kempton Park in Ekurhuleni on Sunday, EFF leader Julius Malema denounced the central bank’s report, labelling it a cover-up.
Malema accused the bank of attempting to shield the president.
He asserted that state institutions are being misused to protect Ramaphosa, and questioned the integrity of the investigation process.
Malema expressed an intention to take the matter to court for a judicial review, emphasizing the party’s determination to uncover the truth behind the Phala Phala saga.
He further criticized Lesetja Kganyago, the governor of the Reserve Bank, for his role in advocating for the report’s release and accused him of pursuing personal gain.
Kganyago’s actions, suggested Malema, are motivated by a desire to eventually become the finance minister, mirroring the path taken by former Reserve Bank governor Tito Mboweni, who went on to become the country’s finance minister.
The EFF leader did not hold back in his criticism of Kganyago’s leadership, alleging that the governor had tarnished the image of the institution and undermined his own legacy.
“The Reserve Bank report that was advocated for by Lesetja Kganyago is a fallacy. Its intention is to undermine that institution and protect one individual,” said Malema.
“Lesetja destroyed the image of that institution. Lesetja destroyed his legacy, Lesetja destroyed everything he stood for.”
He added that Kganyago was protecting Ramaphosa as a means of “career opportunism”.
“He wants to be a finance minister one day. He wants to travel the same path that Tito Mboweni travelled,” he lashed out.
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