Close to R60m declared in political funding

The Independent Electoral Commission (IEC) on Thursday, released the third quarter report for political party funding. The report covered the period between October and December 2023.

The declarations from the seven political parties amounts to almost R60 million.

‘’There has been a steady increase in the value of donations disclosed for the third quarter, which is in some ways indicative of the heighted fundraising activities by political parties in preparation for the upcoming election,’’ says Sy Mamabolo, IEC National Electoral Officer.

PHOTO: IEC

He says a total of seven political parties have made donation declarations during this quarter. Rise Mzansi was the highest party to receive donations of more than R16,7 million, followed by ActionSA with R13,9 million and the ANC with R10 million.

Mmusi Maimane's Build One South Africa (BOSA) was given R8,5 million, while the Patriotic Alliance (PA) received donation of R7 million. The Democratic Alliance (DA) received more than R2 million, and Inkatha Freedom Party (IFP), just over R191 000

PA party leader, Gayton McKenzie, was the party’s highest donor for the quarter with three separate donations

‘’PA declared monetary donations amounting to R7 096 380.00 from eight different donors. Party leader, Gayton McKenzie, was the party’s highest donor for the quarter with three separate donations of R250 000.00, R2 289 130.00 and R220 000.00 during the months of October, November and December 2023, respectively.  These added up to a combined total of R2 759 130.00. Another party leader, Kenny Kunene, made a total monetary donation of R1 007 250.00 to his party during the same period,’’ said the IEC.

The IEC said foreign donations for the third quarter were R71 797.24 and R191 040.77 declared by DA and IFP, respectively.

‘’For each of these parties, the donations were compliant with the legislation in that they did not exceed the set limit of R5 million per party per financial year and were utilised for purposes sanctioned by the law.’’

During the third quarter, the Multi-Party Democracy Fund received a contribution of R5 million (made of two separate amounts of R2 500 000.00) from Standard Bank.

‘’The bank is a repeat contributor to the MPDF as it previously did so in the run up to the 2021 Local Government Elections. This contribution has already been distributed to parties. For the Electoral Commission, this is an indication that there are some in the corporate sector that recognise the role that Corporate South Africa can play to strengthen multi-party democracy in South Africa,’’ said says Sy Mambolo, IEC National Electoral Officer.

The IEC called on other corporate entities and individual members of the society to follow suit.

 

Done By: Mitchum George