South Africa's rand weakens on reports Zuma survived exit push

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Zuma defeated a no-confidence motion against him at the executive committee meeting, according to the website News24 and eNCA.

At a media briefing on Monday, ANC Secretary General Gwede Mantashe said an investigation into state capture should be tabled "without delay", but it must expand on Madonsela's report in attempts to uncover the general influence of businesses on the State.

The stalwarts, who are also signatories of the document titled "For the Sake of our Future", believe that the ANC's name has again been tarnished in the eyes of the communities the party is committed to serve.

The emails, allegedly leaked from inside the Guptas' business organisation, showed how the family "seduced Cabinet ministers and CEOs of state-owned companies with opulent hotel stays and chauffeur-driven trips in luxury cars to their home in the exclusive Dubai suburb of Emirates Hills", News24 reported. Deputy President Cyril Ramaphosa, who's a rival to Zuma's ex-wife to succeed him as party leader in December, said on May 21 that South Africa is threatened with becoming a "mafia state".

The group expressed the view, saying it was "acutely aware" of this being the case, that it was not in the interests of opposition parties to be successful in the proposed parliamentary vote of no confidence.

The ANC's national executive committee (NEC) has accepted a proposal for a judicial commission of inquiry into allegations of state capture.

"There was a call made in the NEC for the President to consider stepping down as president of the Republic". He side-stepped questions on whether calls within the ANC for Zuma to go were regarded in the same light. The United Democratic Movement has asked the Constitutional Court to order a secret ballot, which it hopes will enable ANC lawmakers who occupy 62% of the 400 seats in the National Assembly to vote against the president without fear of losing their jobs.

Some 62% of ANC voters polled by Ipsos disapprove of President Jacob Zuma while only 18% support him‚ suggesting that his continued presidency is exacting a heavy price on the party's electability.

"We expect the rand to continue to weaken in the next few sessions, with the USD/ZAR breaching the key 13.0275 resistance level on concerns about further sovereign rating downgrades", said economists at 4Cast in a research note.

"He was very angry".

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