Cattle sale that dragged Ramaphosa into political storm is back

As political tensions continue to mount.

President Cyril Ramaphosa, who has been fending off allegations that he covered up a robbery at his game farm in the northern Limpopo province, plans to hold a cattle auction at the property next week.

Ramaphosa is one of the country’s biggest farmers of Ankole cattle, a rare, long-horn, Ugandan breed, and a number of the prized livestock will be up for sale, according to the auction website. A lawyer and one of the richest black South Africans, the 69-year-old president started farming the animals after a meeting with his Ugandan counterpart Yoweri Museveni.

One of the lots Ramaphosa will be offering for sale at next week’s auction consist of five frozen embryos from a cow named Rogo and a bull called Diambo, whose “progeny are some of the most sought after Ankole in South Africa,” according to the sale catalog. At an auction in 2017, three months before Ramaphosa became leader of the ANC, some of his Ankole cattle sold for as much as R520 000 each.

Former spy boss Arthur Fraser laid criminal charges against Ramaphosa last week, accusing him of concealing the theft of more than $4 million from the Phala Phala farm in February 2020.

Ramaphosa has confirmed that money he earned from the sale of animals was taken while he was attending an African Union summit in Ethiopia, but far less than Fraser alleged, and denied doing anything wrong.

Political tensions are mounting ahead of the ruling African National Congress’s December conference in December. Ramaphosa appears likely to retain his position as head of the party as his allies continue to win control of key party structures. Under the ANC’s rules, whoever is elected party leader will also be its presidential candidate.

Ramaphosa also came under fire in the lead-up to the ANC’s previous national conference in December 2017, when his detractors disclosed that he had had an extramarital affair. Ramaphosa admitted to the transgression and narrowly won control of the party. He became president two months later when the ANC forced Jacob Zuma to quit to stem a loss of electoral support.

Opinion polls show the president is far more popular than the ANC, which has ruled the country since the end of apartheid in 1994.

© 2022 Bloomberg

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Dear Ramamparra — Please advise how much tax you paid on the $4 Million during the 20/21 year of assessment and have your comrat Kiesetter confirm that please !!!

Just so Dear Cyril (and others of his ilk) know: How much cash can you legally keep at home South Africa?
For cash in South African Rand (ZAR), the limit is 25,000ZAR. For combinations of cash in other currencies, the limit is US$10,000 (or equivalent).

Thanks Google …

Wow — Did not know that – thanx beachcomber.
Wonder what the Hawks will say to that —
Oh nothing of course because the “crime” did not happen ne !!!!!!!!!!!!!

To all the thumbs up guys: Being derogatory and disrespectful does not make you more of a genius…

You know you’re down the rabbit hole when the dungbeetle throws shade at the lion and every meerkat, jackall and hyena are twittering,baying and cackling gleefully about the possibility that the lion might be prevented from saving the savannah…

Ankole cattle only carries perceived value, they don’t have commercial value – all mafia stories. When your brother in law buys from you for record prices and then next year the neighbour and so on and so forth.

Yup, I have heard exactly the same about the so called “rare game” species. An elaborate tax dodge amongst other things.

Do we still have that racket where farmer includes the animal he bought for R500k in this year Purchases but then counts it back at the say R5k SARS standard price for closing inventory? ie gets a R495k tax deduction and will only earn that one day if he sells that animal.

It vastly overstates Cost of Sales like it works in normal industry. Buy widgets at R500k, if you still have half left at end of tax year, then they come back in at R250k so Cost of Sales is R250k

This sounds like the international fine art market. It’s interesting how cash is the medium of choice. Isn’t that the same as drug dealers and arms smugglers? I wonder if any of these guys trade in cryptos?

Just asking for a friend.

End of comments.

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