The enormous sum of foreign currency was later stolen, and President Cyril Ramaphosa now faces impeachment over the murky circumstances of the theft and aftermath.

In June, the former head of South Africa’s intelligence agency complained that the president had concealed the theft of $4 million from his farm in 2020.

The spy chief also claimed that the president had arranged for the robbers to be kidnapped and bribed into silence.

President Ramaphosa subsequently told a parliamentary inquiry headed by a former chief justice that it was $580,000 acquired through the sale of 20 buffalo.

However, the inquiry’s final report yesterday concluded that there is “substantial doubt as to whether the foreign currency that was stolen is from the proceeds of the sale of 20 buffaloes”, The Times reports.

It added: “We think that the president has a case to answer on the origin of the foreign currency that was stolen, as well as the underlying transaction for it.”