News reports suggest that South African President Jacob Zuma has provided key members of the ANC with a list of requirements if he were to step down as president of South Africa.
The Mail & Guardian reports that Zuma is adamant that ANC MP Nkosazana Dlamini Zuma take over as the country's interim president after he steps down.
It has been reported that Ramaphosa has rejected this.
He favours Human Settlements Minister Lindiwe Sisulu or National Assembly Speaker Baleka Mbete.
Zuma also reportedly asked that key members within his cabinet stay in power and become a part of Ramaphosa’s team. This includes Energy Minister David Mahlobo and State Security Minister Bongani Bongo.
The Mail and Guardian spoke to a number of NEC members.
One of the ANC members said that Ramaphosa would find it almost impossible to retain Mahlobo after his controversial insistence of implementing a nuclear programme
Zuma and Ramaphosa seem to be at loggerheads and both are not willing to concede, according to the report.
“At the moment, it’s a stalemate. So we will see where it ends up after the national working committee and heads of subcommittees are selected at the next NEC (meeting),” one of the ANC members said.
Earlier this week the rand strengthened, touching its highest level in two sessions, after rumours that Zuma would step down.
“The Zuma trigger gives a glimpse of how the rand will react if Zuma does step down early, although this possibility is increasingly being priced in,” said Christopher Shiells, a senior emerging market analyst at Informa Global Markets.
This past Sunday parliament said it would meet and review its rules relating to removing the country’s president, after the constitutional court said on December 29 lawmakers had previously failed to hold Zuma to account.
At the meeting, ANC members said they did not discuss any action to have Zuma step down.
The rand has gained around 8% as investors bet Deputy President Cyril Ramaphosa’s election as leader of the ANC would push through business-friendly policies.
-BUSINESS REPORT ONLINE