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JOHANNESBURG - President Jacob Zuma addressed the nation after 22:00 on Wednesday night and resigned with immediate effect.
While Zuma has thus far dug in his heels, saying he does not see why he should resign now, eNCA took a look at the financial implications of the different exit options presenting themselves to Zuma at the moment.
VIDEO HIGHLIGHTS: Zuma says he won't step down now
On Wednesday, the Speaker of National Assembly, Baleka Mbete said after consultations with political parties, they agreed on a sitting on Thursday where a vote of no confidence in Zuma will take place.
Following the meeting of all political parties represented in Parliament, the country can expect the following:
- Thursday: Motion of no confidence in President Jacob Zuma, supported by all parties in Parliament.
- Friday: Swearing in of new President and SONA
- Monday: Debate on SONA
- Tuesday: Response to the debate on SONA
- Wednesday: Budget speech
The President earns just shy of R3 million a year.
The President has a number of benefits guaranteed to him as head of state.
If the President is impeached, he loses all his benefits.
If he is voted out in a motion of no confidence, he retains his benefits but can be prosecuted criminally.
The same applies if he resigns.