Big beasts of business back Ramaphosa inquiry

Some of the biggest businesses in South Africa have voiced their support for a panel that found the nation’s president may have broken the law in his handling of a robbery at his farm.

Business Leadership South Africa – a grouping that includes Shell, MTN, Citigroup and BMW among others – said Wednesday’s report was healthy for democracy and urged the authorities to continue investigating “without fear or favour”.

Political turmoil and fears that President Cyril Ramaphosa would resign caused a slump in the value of the rand on Thursday, but the currency has rallied somewhat as of Friday morning.

Businesses and stakeholders are seeking stability and a quick resolution.

“We would also like to call on all the other organs of state who are working on this matter to conclude their processes and come forward with their findings,” read the statement from Business Leadership South Africa.

By BBC