The president of South Africa is fighting for his political future amid an unfolding scandal that has tainted his reputation as an anti-apartheid icon once widely admired for tackling the problems of Africa's most developed economy.                                                                                                                                                                                                                                                                                                                                                                                                   Cyril Ramaphosa, 70, says he’s innocent of charges that he hid at least $580,000 in a sofa at his game ranch. He’s accused of not registering the money with authorities, and when it was stolen not reporting the theft to police, in order to avoid questions about how he got the U.S. dollars. 

South Africa’s ruling party, the African National Congress, is to vote in a conference starting Friday about whether Ramaphosa should step down as the party’s leader. South Africa’s past two presidents have had to resign after losing the party leadership at the ANC conference.                                                                                                                                                                        Ramaphosa handily survived an impeachment vote in parliament this week, strengthening his hand in the upcoming party conference vote.

Ramaphosa is also being investigated on possible charges of illegally holding foreign currency.

“From Ramaphoria to Ramafailure,” read a headline this week on the News24 website that described how widespread admiration over Ramaphosa’s leadership of this nation of 60 million has become dismay.

Once respected for his anti-apartheid activism and his bond with Nelson Mandela, Ramaphosa came from a trade union background to become a board member and shareholder in several of South Africa’s largest corporations. Ranked as one of South Africa’s wealthiest menhe appeared well-equipped to tackle the corruption that has reached into virtually every corner of South African life including dealings with police and accessing government services. 

One of Ramaphosa’s pet projects is his Phala Phala ranch in Limpopo province, where he raises prize Ankole cattle and African antelopes. 

The allegations against him stem from a report that undeclared foreign cash was hidden in a couch at his house on the ranch. When that money was stolen in 2020, Ramaphosa did not report the theft to police, apparently to avoid questions about where the money came from and why it had not been declared to officials. 

Ramaphosa maintains that his ranch got the money from the sale of some buffalo to a Sudanese businessman and the ranch manager did not know what to do with the cash.