Deputy President Jacob Zuma will not be prosecuted for anything related to South Africa's multi-million rand arms procurement deal, Public Prosecutions head Bulelani Ngcuka said on Saturday.

This was despite a recommendation from the investigation team that criminal prosecution be instituted, he told reporters in Pretoria.

"We have concluded that, whilst there is a prima facie case of corruption against the deputy president, our prospects of success are not strong enough.

"That means that we are not sure if we have a winnable case. Accordingly, we have decided not prosecute the deputy president," Ngcuka said.

This decision could be reviewed should new evidence arise.

The team was investigating allegations that Zuma tried to solicit R500,000 from Thomson CSF/Thales, a company that benefited from the arms deal In return, he allegedly offered to protect the firm during subsequent investigations.

Zuma has repeatedly rejected the allegations.

Ngcuka also announced that Zuma's personal financial advisor, Schabir Shaik, would be charged with various counts of corruption, fraud, theft of company assets, tax evasion and reckless trading. The Nkobi group of companies, of which is Shaik is a director, and French arms company Thomson CSF would be prosecuted for contraventions of the Companies Act.

"We will be referring the evidence we have against Alain Thetard, Perrier, and international companies like Thomson, to the French authorities for them to take appropriate action," Ngcuka said.

Issues around the declaration of gifts and donations received by Zuma would be referred to Parliament for its consideration.

With acknowledgement to Sapa.