President Cyril Ramaphosa has lost the political support of the ANC and is “very likely” to announce his resignation as head of state in the next few hours.

Ramaphosa will also resign as president of the ANC and will pull out of the race to be re-elected in just over two weeks’ time at Nasrec.

In accordance with the Constitution, Deputy President David Mabuza, a former premier of Mpumalanga, will step in as acting president until Parliament votes for a new president.

It is expected that whoever is elected as the next ANC president mid-December will be sworn in as state president at a special sitting of Parliament at the end of the month.

The DA has tabled a motion, arguing for Parliament to be dissolved and for an early election to be held next year.

News24 has spoken to a range of senior politicians and civil servants close to the president’s decision, that is likely to trigger a credibility crisis for South Africa.

A source close to talks said Ramaphosa did not have to be convinced of the case to resign. The insider said Ramaphosa argued that it was in the best interest of the stability of the country for him to quit.

“There is nothing we can do now,” the source said.

Vincent Magwenya, Ramaphosa’s spokesperson, said the president would address the nation “soon”. He said the president was still considering his options.

“The primary concern in the president’s mind is the stability of the government and the country.”