South African President Cyril Ramaphosa announced Monday that he will not resign from his position despite the establishment of an impeachment committee to reinvestigate allegations that he committed serious misconduct by hiding the theft of more than half a million dollars in cash, which had been stashed in a sofa at his game ranch.

In a televised address to the nation, Ramaphosa said he would legally challenge a parliamentary report which found credible evidence of wrongdoing on his part, a process that is likely to significantly delay possible impeachment proceedings against him.

He has faced calls from various quarters, especially opposition parties, to step down from his position while these processes unfold.

His announcement came a few hours after the South African Parliament said it would establish the impeachment committee in compliance with a decision of the country’s highest court last week that the report should referred to an impeachment committee.

“I therefore respectfully want to make it clear that I will not resign,” Ramaphosa said on Monday.