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South Africa's rand slips as investors book profits

South Africa's rand slips as investors book profits

The announcement came amid opposition calls for Zuma's impeachment.

A scandal erupted after documents leaked to the South African press past year revealed the close ties between his family and the secretive, well-connected Gupta's, who numerous allegations revolve around.

Stocks were little changed with South African-listed Steinhoff shares weighing on the market.

She added that the DA would continue to pursue every possible avenue to hold Zuma accountable for the 783 counts of corruption against him as well as his role in state capture.

Zuma, who has denied wrongdoing, said he has appealed the order to pay the costs himself but is moving ahead with a commission of inquiry because "this matter has occupied the public mind for some time now and deserves urgent attention".

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Zuma is set to attend the African Peer Review Mechanism / New Partnership for Africa's Development sessions on January 27, in addition to the thirtieth Ordinary Session of the Assembly of the Heads of State and Government of the AU, which is scheduled to take place on January 28 and 29.

"Accordingly, by making more resources available, it is my honest hope that the commission will be able to reach many of those areas of concern that may not have been reached by the public protector's investigation, but form part of what she might have investigated, had she had sufficient resources to do so".

Magashule said that there was only one item on the agenda, namely ANC president Cyril Ramaphosa's speech, celebrating the ANC's 106th birthday.

The rand had a brief spike on Tuesday as false reports of Zuma's impending resignation - combined with headlines around the Zuma payload in the SpaceX launch going missing, confusing issues - gave the market some hope that the president would be out. "But better late than never", Madonsela said.

The ANC's elective conference in Johannesburg last month ruled the inquiry should be expedited.