South African President Cyril Ramaphosa denied allegations of money laundering while being questioned by lawmakers Thursday over a scandal that threatens his position and the direction of Africa's most developed economy.
Ramaphosa already faces an investigation by police and a Parliament-appointed panel over the theft of a large amount of money in U.S. dollars from his ranch in 2020. He has been accused of illegally holding around $4 million in cash at his game ranch in northern South Africa and covering up its theft in an attempt to hide the existence of the money.
