South African President Jacob Zuma resigns

Agencies
February 15, 2018

Johannesburg, Feb 15: South African President Jacob Zuma resigned on Wednesday in a televised address to the nation, ending a turbulent tenure marred by corruption scandals that sapped the popularity of the ruling African National Congress and hurt one of Africa’s biggest economies.

The resignation signaled an imminent end to a leadership crisis in South Africaand set the stage for Mr. Zuma to be replaced by Deputy President Cyril Ramaphosa, who has promised a robust campaign against corruption but will quickly face pressure to produce results in a country struggling with unemployment, economic inequity and other problems. Ahead of 2019 elections, Mr. Ramaphosa also has the tough task of rebuilding a ruling party whose moral stature has diminished since it took power at the end of white minority rule in 1994.

“I have therefore come to the decision to resign as president of the republic with immediate effect,” said Mr. Zuma, who added that he took the decision even though he disagreed with the ruling party’s demand that he quit immediately or face a motion of no confidence in the parliament on Thursday. Mr. Zuma, 75, had said he was willing to resign early from his second five-year term but wanted to stay in office for several more months.

“Of course, I must accept that if my party and my compatriots wish that I be removed from office, they must exercise that right and do so in the manner prescribed by the constitution,” Mr. Zuma said.

The African National Congress welcomed the resignation, expressing gratitude for Mr. Zuma’s “loyal service” during his nearly 10 years as president and encouraging party members to support Mr. Ramaphosa, now the country’s acting president. By the end of the week, Ramaphosa is likely to be elected president by the ANC-dominated parliament and to give a state of the nation address that had been postponed during the political turmoil.

South Africa’s biggest opposition party, the Democratic Alliance, said the ruling party must act against associates of Zuma who are also suspected of wrongdoing and mismanagement.

“Zuma built a deep system of corruption that has penetrated every part of the government and the criminal prosecution system,” Democratic Alliance leader Mmusi Maimane said.

“Now the country looks to Cyril Ramaphosa to save us from a man that he and the ANC protected and supported. We must never allow this to happen again,” said Maimane, who wants parliament to be dissolved so that early elections can be held.

Mr. Ramaphosa, a union leader during apartheid, was a key negotiator of the transition from white minority rule to democracy in the 1990s and later became a wealthy businessman. He replaced Mr. Zuma as leader of the ANC in December and has been consolidating his control, while also raising his international profile with a visit last month to the World Economic Forum in Davos, Switzerland.

On Wednesday morning, South African police raided the home of prominent business associates of Mr. Zuma who are accused of being at the center of corruption scandals that have infuriated the country. An elite police unit entered the compound of the Gupta family, which has been accused of using its connections to the president to influence Cabinet appointments and win state contracts.

Several people were arrested during police operations, South African media reported.

Both Mr. Zuma and the Guptas deny any wrongdoing, though legal challenges are looming. As the Gupta-linked investigation proceeds, Mr. Zuma also could face corruption charges tied to an arms deal two decades ago. South Africa’s chief prosecutor is expected to make a decision on whether to prosecute Zuma on the old charges, which were reinstated last year after being thrown out in 2009.

In another scandal, South Africa’s top court ruled in 2016 that Zuma violated the constitution following an investigation of multi-million-dollar upgrades to his private home using state funds. He paid back some of the money.

Still, Mr. Zuma, a former anti-apartheid activist who spent a decade at the Robben Island prison where Nelson Mandela was held, was popular among some South Africans for his personal warmth and populist policies.

In 2006, while being tried on charges of raping an HIV-positive family friend, Mr. Zuma was widely criticized after testifying he took a shower after extramarital sex to lower the risk of AIDS. He was acquitted of rape. But during his tenure, he called for earlier and expanded treatment for HIV-positive South Africans that helped to curb the death rate and urged his countrymen to get tested for HIV.

The former president was defiant in a television interview earlier Wednesday, saying he had done nothing wrong despite the ANC’s demand for his resignation.

“I’m being victimized here,” Mr. Zuma told state broadcaster SABC. He complained that Ramaphosa and other ANC leaders had not given him clear reasons about why he should go.

“Why do you look serious? You can’t even say, ‘Good evening,’” a beaming Mr. Zuma said to weary journalists. “What’s happening ... you are tired. We are working, aren’t we?”

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News Network
January 19,2020

Mumbai, Jan 19: After Kerala and Punjab, the Maha Vikas Agadi (MVA) government is also mulling over a resolution against the Citizenship (Amendment) Act, 2019 in Maharashtra Assembly.

Speaking to news agency, Congress spokesperson Raju Waghmare said: "Our senior party leader Balasaheb Thorat has also shared his stand on the CAA. Even Chief Minister Uddhav Thackeray has said that we are against the CAA. As far as the resolution against CAA is concerned, our senior leaders of MVA will sit together and decide."

If this happens, then Maharashtra will be the third state to pass a resolution against CAA, which grants citizenship to non-Muslim refugees from Pakistan, Afghanistan, and Bangladesh, who came to India on or before December 31, 2014.

Emphasising that CAA is 'unconstitutional,' senior lawyer and Congress leader Kapil Sibal has said that every state Assembly has the constitutional right to pass a resolution and seek CAA's withdrawal.

He added that it would be problematic to oppose the CAA if the law is declared to be 'constitutional' by the Supreme Court.

"I believe the CAA is unconstitutional. Every State Assembly has the constitutional right to pass a resolution and seek its withdrawal. When and if the law is declared to be constitutional by the Supreme Court then it will be problematic to oppose it. The fight must go on!" Sibal tweeted.

Earlier speaking at the Kerala Literature Festival on Saturday, the Congress leader had said that constitutionally no state can say that it will not implement the amended Citizenship Act, as doing so will be "unconstitutional".

Kerala government has also approached the Supreme Court against the CAA following the passage of a resolution against it in the state Assembly.

Punjab chief minister Amarinder Singh has also announced that the Congress state government is going to join Kerala in the Supreme Court in the case.

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News Network
April 22,2020

London, Apr 22: The UK government on Tuesday announced a 20 million pounds funding for a University of Oxford project working on developing a vaccine against the novel coronavirus, which is now ready for acceleration as it begins human trials from Thursday.

UK Health Secretary Matt Hancock told the daily Downing Street briefing that the Department for Health was “throwing everything” at trying to find a vaccine because it is a critical aspect of the COVID-19 pandemic fight and lifting the strict lockdown measures in place to curb its spread.

Another 22.5 million pounds is being made available to Imperial College London to support its phase-two clinical trials for them to begin the work on a very large phase three trial.

"Normally it would take years to get to this point," said Hancock.

"The UK is at the forefront of the global effort – we've put in more money than any other into the global search for a vaccine. Nothing about this is inevitable. Vaccine production is a matter of trial and error. But the UK will throw everything it has at trying to find one,” he said.

The announcement came as Britain had another major daily leap in the hospital death toll from coronavirus, up by 823 to hit 17,337 on Tuesday.

But the Cabinet minister said the government's plan to control the rapid spread of the virus and prevent the state-funded National Health Service (NHS) from being overwhelmed is working as the number of hospitalisations with COVID-19 was showing a downward trajectory.

In reference to a major issue in the last few weeks of a critical shortage of personal protective equipment (PPE) for doctors and nurses on the frontlines of COVID-19 treatment, the minister said the supply problems are being addressed by actively engaging with thousands of companies, including 159 UK manufacturers.

“We are determined to get people the PPE they need. This is a 24/7 operation, one of the biggest cross-government operation I have ever seen," said Hancock.

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News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

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