How much funding South Africa’s political parties received in 2024

How much funding South Africa’s political parties have garnered in 2024 has received a lot of attention this week.

For the latest Elections 2024 news, visit the SAPeople website.

First, The South African reported how the Electoral Commission (IEC) fined the ANC and other parties for late disclosure of their funding.

Now, the IEC has published full details on how much funding South Africa’s political parties received in 2024 …

FUNDING SOUTH AFRICA’S POLITICAL PARTIES

With less than two weeks to go to the closest-fought election in Mzansi’s 30-year democracy, political parties have secured some notable donations in 2024, reports BusinessTech.

According to the Political Party Funding Act, parties must disclose all donations received above R100 000.

And the latest Party Funding Disclosure Report from the IEC declares R172 million has been donated in total.

And here’s how it breaks down for each election candidate/party (from most to least):

• Democratic Alliance (DA) – R65 million
• Change Starts Now – R35.8 million
• Inkatha Freedom Party (IFP) – R20 million
• African National Congress (ANC) – R16.7 million
• Rise Mzansi – R15.1 million
• ActionSA – R10.5 million
• Economic Freedom Fighters (EFF) – R2.6 million
• United Democratic Movement (UDM) – R2.2 million
• Independent South African National Civic Organisation (ISANCO) – R1.6 million
• Patriotic Alliance (PA) – R1 million
• Vryheidsfront Plus (VF Plus) – R770 000
• Able Leadership (AL) – R360 000
• African Transformation Movement (ATM) – R120 000

Interestingly, the IEC says the declared value of donations has surpassed the R100 million mark in any one quarter for the very first time.

FRONT RUNNERS

Of the leading parties in with a chance of defeating the ANC on Wednesday 29 May 2024, the Democratic Alliance (DA) stakes claim to R65 million.

This came from 24 different transactions.

R10 million from Jonathan Ernest Maximillian Oppenheimer, and NF Oppenheimer. R8 million from Martin Moshal and R10 million from the Gap Infrastructure Corporation. African Rainbow Minerals Limited and Harmony Gold Mining Company Limited, both Patrice Motsepe’s each donated R2.52 million. Naspers Limited gave R2 million.

In contrast, the African National Congress (ANC) was left floundering with just R16.7 million in the same time frame.

R6.9 million was received from companies associated with the mining magnate, Patrice Motsepe. Once again, African Rainbow Minerals Limited and Harmony Gold Mining Company Limited. The rest of the declared donations were received from three different entities in the names of Naspers Limited.

Bizarrely, Change Starts Now (CSN) received the second highest amount of funding at R35.8 million.

However, it will not contest the forthcoming elections as it did not meet all of the requirements to appear on the ballot.

One of its largest donations was R15 million from Fynbos Ekwiteit (Pty) Ltd.

We sincerely hope the funds will be returned!

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