Indian-born businessmen Gupta family home raided by South Africa police

Cyril Ramaphosa and Jacob Zuma

Finance minister Malusi Gigaba said Zuma would speak at 0800 GMT and satellite trucks were in position at Pretoria's Union Buildings, the seat of government. "I don't understand. I don't agree with it".

Zuma is expected to respond to the ANC party's order later Wednesday, hours after police arrived at the Gupta family's heavily protected house in the upmarket suburb of Saxonwold in the early morning.

The scribe Ace Magashule said this when briefing the media in Johannesburg about ANC's NEC (National Executive Committee) meeting last night.

The leadership of South Africa's ruling party says it wants President Jacob Zuma to resign promptly and bring an end to political uncertainty and months of anger over multiple scandals.

"Whilst we see potential for a continued drop in the pair to 11.3909 if it is all wrapped up this week, broadly speaking all of the good news is priced-in given the ZAR's near 20 percent gain versus the dollar since Ramaphosa was voted as leader", said emerging markets analyst at Informa Christopher Shiells.

The ANC said on Tuesday it had made a decision to "recall" Zuma, a euphemism for removing him from office, but gave him no firm deadline to resign, setting the stage for a potential fight to wrest him from power.

Zuma broke his silence Wednesday in a live interview with state broadcaster SABC as the nation awaited word on whether he would obey a ruling party order to leave office.

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Magashule told reporters that the decision to recall the leader was not because Zuma "has done anything wrong" - he described it as a realignment behind Ramaphosa.

An opposition-sponsored motion of no confidence in Zuma had been scheduled for February 22, but the ruling party joined opposition leaders in pushing for the date to be moved to this week in a rare show of unity among rival political factions.

The president has been discredited by corruption scandals but has been clinging onto power. He is fighting the reinstatement of corruption charges, which were dismissed before he became president, over a 30 billion-rand (US$2.52 billion) government arms deal arranged in the late 1990s.

The next step for the ANC in the event of defiance by Zuma would be for the ANC to use the constitutionally mandated parliamentary process of a vote of no confidence, Absa Capital economists, Miyelani Maluleke and Peter Worthington, stated. Zuma, 75, denies any wrongdoing and it remains unclear whether he will throw in the towel or dig in deeper.

In 2016, Zuma was ordered by South Africa's top court to repay part of $15 million in public funds it said he misappropriated to upgrade his private home.

But he has so far resisted increasing pressure to quit since December, when Cyril Ramaphosa replaced him as leader of the ANC.

Earlier Wednesday, police raided the Johannesburg home of the Gupta business family accused of overseeing a web of corruption under Zuma's rule.

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