South Africa's President Cyril Ramaphosa announced on Monday that he will not resign and said he will challenge the impeachment proceedings against him in court over the cash heist scandal.

The announcement came a few hours after the South African parliament announced its intention to establish an impeachment committee as ordered by the country's highest court last week.

"I therefore respectfully want to make it clear that I will not resign," Ramaphosa said in a televised address.

"To do so would be to preempt a process defined by the Constitution. To do so would be to give credence to a panel report that unfortunately has grave flaws."

What is Ramaphosa accused of?

The South African president was accused of hiding a 2020 break-in and the theft of large sums of foreign currency from police and tax authorities in what became known as the "Farmgate" scandal.

The funds, $580,000 (€492,000) which Ramaphosa said were the proceeds from the sale of buffaloes, were allegedly hidden inside a sofa at Ramaphosa's luxury Phala Phala farmhouse in the northern Limpopo province. 

In 2022, a report by an independent parliamentary committee found that Ramaphosa "may have committed" serious violations and misconduct. At the time, Ramaphosa's African National Congress (ANC) party held a majority in parliament and it declined to open impeachment proceedings following the report.

The case resurfaced last week when the Constitutional Court overturned the rejection of the 2022 parliamentary report. 

In response to a complaint lodged by the radical left-wing Economic Freedom Fighters (EFF) party, the Constitutional Court ordered that the report be referred to an impeachment committee.

What is the impeachment procedure?

According to the Constitution of South Africa, impeaching Ramaphosa would require the support of at least two-thirds of the 400 lawmakers in Parliament.

The multi-party impeachment committee must first conduct an investigation before holding an impeachment vote. Monday's Parliament statement did not provide a time frame for this investigation.

Ramaphosa's ANC party lost its parliamentary majority in the 2024 election and is now part of a 10-party coalition known as the Government of National Unity. However, he could still survive an impeachment vote if his party's lawmakers back him.

Edited by: Zac Crellin