Rédaction Africa Links 24 with Rebecca Davis
Published on 2024-02-29 23:24:06
Newer political parties are currently attracting the attention of funders as the elections draw near. This is evident from the recent political party funding disclosures released by the Independent Electoral Commission (IEC). Three parties that were established less than four years ago – Rise Mzansi, ActionSA, and Build One South Africa (Bosa) – collectively received close to R40 million in donations from October 1 to December 31, 2023.
Among these parties, Rise Mzansi, led by Songezo Zibi, emerged as the biggest beneficiary, securing around R16.7 million in funding despite not having been tested electorally yet. The majority of this funding came from Rebecca Oppenheimer, a prominent figure in the South African political funding landscape and one of the heirs to a family mining fortune. She, along with her siblings and mother, has been actively involved in funding opposition parties, with a notable donation of R15 million to Zibi’s Rise Mzansi.
Another significant donor was Victoria Freudenheim, who contributed R7,486,200 to Herman Mashaba’s ActionSA, along with Martin Moshal, an online gambling mogul, donating R5 million. Additional smaller donations brought ActionSA’s total funding during the period to R13,912,450. Moshal also appeared in the financial disclosures for Mmusi Maimane’s Bosa, contributing R2 million, along with Jessica Slack Jell donating R6 million, and her mother Mary Slack previously donating R5 million to Bosa.
The latest funding records highlight the consistent trend of a small group of wealthy individuals, particularly Moshal and the Oppenheimers, playing a significant role in financing the South African political system. However, there have been concerns about the reliability of funding disclosures, especially with the Economic Freedom Fighters (EFF) once again not declaring any donations exceeding the minimum R100,000 threshold during the October-December period, despite hosting large rallies.
The financial status of various parties has raised questions, with ActionSA expressing skepticism regarding the ANC settling a major historical debt based on its declared donations. The discrepancy in the ANC’s declared donations and the settlement of a R102 million debt to Ezulweni Investments has sparked concerns. ActionSA emphasized the need for transparency and accountability in party funding disclosures.
The ANC’s limited external donations over the period and the DA’s decline in funding underscore the challenges faced by established parties in attracting financial support. While the DA received donations from sources like the Artemis group and Beacon Rock Ltd, some regular donors may have already reached the maximum allowable donation limit.
As the election campaign intensifies, the ability to secure funds becomes crucial for political parties. Without sufficient external funding, politicians may resort to financing their parties from personal funds, as seen in the past. Ultimately, the financial backing received by parties plays a crucial role in shaping the political landscape and influencing election outcomes.
Read the original article on Daily Maverick
