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"South Africa's going through a period of uncertainty and anxiety as a result of the unresolved matter of transition", Magashule said, adding that the decision to demand Zuma's resignation was a hard one "taken after exhaustive discussions". "A former cabinet official blew the whistle and said the Guptas offered him a $50 million dollar bribe", Granitz reports.

South Africa's ruling African National Congress party announced Tuesday that it would press President Jacob Zuma to resign despite his adamant refusal to relinquish his post amid corruption scandals.

The vote will take place in Parliament on Thursday, if Zuma doesn't heed the ANC's call to resign before then.

It would be very hard though for him to resist a formal request to resign - known as a "recall", the report added. They and Mr Zuma deny any wrongdoing.

"It is along with that that we are calling on all South Africans from all walks of life ... must march in their numbers to insist that Jacob Zuma must be removed as a matter of urgency".

Ace Magashule, the sribe of the ANC, had told a news conference that Zuma would respond by Wednesday on the decision to "recall" him. "Nobody is saying what I have done", he said.

Ramaphosa was elected ANC president in December, replacing Zuma.

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Zuma, 75, has not said whether he will resign voluntarily before his second term as president ends in the middle of next year. It said that the prospect of a plea bargain is part of an exit package being secretly negotiated between Ramaphosa and Zuma.

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"The rand has always been volatile and that is one of the reasons why traders like it - they make and lose money off volatility", Mr de Vos said.

Corruption scandals involving Zuma have sunk the popularity of the ANC, which holds stature as a key player that fought white minority rule and is credited with the dismantling of apartheid in 1991.

The 75-year-old faces more than 780 allegations of corruption relating to a 1990s arms deal.

National Assembly Speaker Baleka Mbete, who agreed to the delay that was called for by the opposition and agreed to by Zuma, said a "more conducive" atmosphere would be needed for the speech. Neither of these appeared to yet be in play for the ANC, although the opposition Economic Freedom Fighters party has already submitted a motion for a parliamentary vote of no confidence. "We would like the incoming president to put forward to the nation what the programme of the ANC will be for this year", he said.

Earlier, News24 reported that if Zuma had refused to resign even after a decision to recall him, the battleground would move to Parliament.

"We expect the ZAR to test the R11.80/$ level if the president does resign, but the longer the saga drags on the more hard it will become for the ZAR to gain ground", Cilliers said earlier.


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