South Africa's President Jacob Zuma gestures during a media briefing with Palestinian President Mahmoud Abbas (not pictured) at the Union Building in Pretoria November 26, 2014.
The rand, which has been roaring along since Cyril Ramaphosa was elected ANC president to succeed Jacob Zuma in December, seems to have run into the quicksand of reality.
"Contestation is now over and the victor was the African National Congress‚" Ramaphosa declared, adding that the party should now rid itself of factionalism and forge unity in KwaZulu-Natal Province, which is also President Jacob Zuma's home region.
"We believe that the rand's rally is looking overstretched given that South Africa's idiosyncratic risks did not end with Ramaphosa's victory". Zuma has been unpopular with investors.More news: Trump cancelled United Kingdom visit as he is not welcome here: London Mayor
The sources all agreed that it was now a matter of when, and not if, Zuma stepped down.
Zuma has been weakened since Ramaphosa narrowly defeated Zuma's ex-wife Nkosazana Dlamini-Zuma in an ANC leadership contest last month. Sources inside the national executive committee had told News24 that Ramaphosa was scheduled to meet with Zuma during his visit to KwaZulu-Natal on the weekend.
It is quite clear that Ramaphosa is not equal to the task of getting rid Zuma as the majority of the ANC is still made up of corrupt and selfish leaders who put filling their own pockets before the needs of the people. This is despite previous reports that his ousting was on the agenda by ANC officials who want him out.
On Sunday, ANC NEC member Ronald Lamola said the future of Zuma will be featured during the party NEC meeting.