On Friday, President Jacob Zuma’s spokesperson said there was no basis for reports that the President would axe Deputy President Cyril Ramaphosa, speculation about which has weighed on the currency and bonds. "It’s rumours and gossip, and we don’t comment on them at all," Zuma’s spokesperson Bongani Ngqulunga said. Ramaphosa has recently stepped up criticism of Zuma’s scandal-plagued government.

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