Ramaphosa denies Phala Phala foreign currency theft was money laundering

He told parliament he had reported the crime at his farm in Limpopo in 2020 to a police general.

President Cyril Ramaphosa in Parliament on Thursday September 29, 2022. Photo: GCIS.

CAPE TOWN — President Cyril Ramaphosa on Thursday vehemently denied that the theft of foreign currency from his Phala Phala farm amounted to money laundering.

He told parliament he had reported the crime at his Limpopo farm to a police general in 2020.

Responding to questions from the National Assembly on Thursday afternoon, Ramaphosa said police needed to explain why a case had never been registered.

After being rather quiet on previous occasions, Ramaphosa was more open about the theft from his Phala Phala farm as opposition parties sidelined on issues related to gang activity and illicit financial flows for the to question.

“There was a robbery on the farm and I reported it to a general in the South African police [SAPS] who later informed me that he also reported it to another SAPS general,” Ramaphosa said.

Ramaphosa said he never made a secret of the fact that he was a cattle and game rancher.

The money stolen from his farm, he said, was the proceeds from the sale of the animals: “In my opinion, this is not money laundering. It is an ongoing process. »

Ramaphosa said he has pledged to cooperate with all ongoing investigations.