Cash-strapped ANC proposes changes to Party Political Funding Act
Giving feedback on the outcomes of the weekend’s three-day NEC meeting in Soweto, ANC treasurer-general acknowledged the party’s finances are in disarray.
“We have been battling with funding. You would know that since the Party Political Funding Act requires disclosure many companies are a bit reluctant. But, also there’s a limit on how much people can donate in a year which is limited to R15 million,” Mashatile said.
Mashatile said this has created constraints on the governing party’s fundraising efforts.
The ANC treasurer-general said they’ve proposed amendments to the Act.
The PPFA requires that donations of R100,000 and higher be disclosed to the Independent Electoral Commission.
“We have presented our proposals, so as the minister of home affairs is busy with an amendment to the Electoral Act, he will also look into this matter as well.”
However, Mashatile said not all is lost: “Our fundraising efforts have not died completely. It is difficult but we are surviving. We have paid all our staff to date and we will pay them this month and next month…”
Staff at Luthuli House have staged pickets over delayed or unpaid salaries.
The ANC also revealed it will be selling off some of its assets, especially those outside SA’s borders, in order to meet its financial commitments.
Mashatile also assured the public that the ANC would be able to successfully host the conference and fund the logistical requirements around the five-day event in December.
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