South African opposition parties have rejected a report absolving the country's president from financial wrongdoing in the upgrades of his personal home.

Opposition parties on Wednesday released their own report calling for President Jacob Zuma to be removed from office. They also demanded a criminal investigation and that Zuma pay back a portion of the more than $20 million in state funds used to improve his rural homestead in Nkandla in the Kwazulu-Natal province.

On Tuesday evening, a parliamentary committee released the findings of its investigation which cleared the president. The opposition walked out of that committee last month.

The investigation began after South Africa's government watchdog, the Public Protector, released a report concluding that Zuma inappropriately benefited from state funding.