South Africa’s Constitutional Court ruled on Friday that President Cyril Ramaphosa must face an impeachment inquiry over a $580,000 theft from his game farm. The decision invalidated a law that let Parliament reject an independent panel’s 2022 recommendation, reopening a scandal that could topple the ANC‑backed leader.

The panel had questioned how the money, allegedly stashed in a couch in 2020, vanished, and warned that the president may have abused his office seeking external help from Namibia and violating foreign‑currency rules. Parliament had previously blocked the inquiry, with 214 out of 400 MPs voting against it to maintain control over national issues.

Ramaphosa, who took office in 2017 promising to dismantle graft, saw his reputation erode after the 2024 election reduced the ANC to 40% of seats, stripping it of an outright majority. A two‑thirds parliamentary majority would oust him, a threshold now far less attainable for his political cause and the nation’s stability to remain intact.

Investors now scrutinize the ANC’s ability to govern amid legal turbulence, as the ruling could unsettle market confidence in South Africa’s political stability and impact foreign investment flows. Companies linked to state enterprises may face heightened scrutiny, while the broader economy could feel the drag of a leadership crisis for the future of the economy.