South African President Thabo Mbeki has agreed to resign after his ruling African National Congress (ANC) announced that it would remove him from office before the end of his term. The presidency said: "Following the decision of the National Executive Committee of the African National Congress to recall President Thabo Mbeki, the President has obliged and will step down after all constitutional requirements have been met." Mr Mbeki's term was set to end in April 2009. He has ruled Africa's largest economy since taking over for Nelson Mandela in 1999. Last week Mr Mbeki had told the cabinet he would accept whatever decision the ANC made. The ANC will ask Mr Mbeki's cabinet ministers to remain in their positions in the transition period after he leaves office for the sake of the country's stability, Gwede Mantashe, the African National Congress' secretary-general said.