The ANC has full confidence in Deputy President Jacob Zuma, says ANC spokesperson Smuts Ngonyama, despite the allegations made against him in the charge sheet against Schabir Shaik.

"He (Zuma) has been exonerated by the National Director of Public Prosecutions and we have full confidence in him," said Ngonyama. "With regard to matters relating to Schabir we believe the matter is sub judice and it is for the court to interrogate the evidence," he said.

However, Zuma was not exonerated. Bulelani Ngcuka said that although there was prima facie case of corruption against Zuma, it was not a "winnable" case.

Ngonyama also pleaded ignorance to statements made by the Scorpions in the charge sheet that the ANC held a 10% shareholding in Nkobi Holdings, the company at the centre of bribery and corruption allegations.

The document says shareholders of Nkobi Investments include a 10% stake by Floryn Investment (Pty) Ltd. "Floryn Investments is ostensibly owned by (Shaik). (Shaik) holds the shares as nominee or cedent for the African National Congress, making the latter a 10% shareholder in Nkobi Holdings."

Ngonyama said he had no knowledge of a link between Floryn Investments and the ANC. He said he could not comment further because the matter was sub judice.

But he said the ANC was a legal entity and could appoint anyone it wished to serve as its nominee. The ANC would inform the public of any nominee shareholders if it felt it was appropriate to do so.

Institute for Democracy in South Africa analyst Judith February said if it was true that the ANC had a 10% stake in Nkobi Holdings, it would be a clear conflict of interest.

With acknowledgement to The Star.