The South African Revenue Service (SARS) has recently confirmed that the discovery of US dollars hidden inside a couch on President Cyril Ramaphosa’s Phala Phala farm was not declared upon entering the country. The revelation has sparked questions about currency regulations in South Africa and raised concerns about potential illegal activities.
The discovery was made by the Public Protector, Busisiwe Mkhwebane, during an investigation into the funding of Ramaphosa’s African National Congress (ANC) presidential campaign. The investigation was initiated in response to allegations of irregularities in the funding of the campaign.
Following the discovery, SARS launched an investigation into the matter and confirmed that the US dollars were not declared upon entering South Africa. Failure to declare foreign currency upon entering the country is a violation of the Customs and Excise Act and can result in severe penalties.
The revelation has raised questions about the transparency of the funding of political campaigns in South Africa, with some commentators suggesting that the discovery of undeclared currency may be an indication of the use of illicit funds in the campaign. The ANC has denied any wrongdoing and stated that the funding for the campaign was obtained legally.
The incident has also highlighted the need for stricter enforcement of currency regulations in South Africa. The country’s Reserve Bank requires that all individuals entering or leaving the country with foreign currency in excess of $10,000 must declare it to customs officials. Failure to do so can result in penalties and even criminal charges.