WHO exactly is funding South Africa’s political parties?

Data journalists at The Outlier have put together fascinating information on who is funding South Africa’s political parties. With just over two months to go to the 2024 General Elections on Wednesday, 29 May, political experts believe this will be the closest election in South African history. They say there is a very real chance the African National Congress could lose power for the first time since it was elected 30 years ago, at the start of this nation’s democracy.

WHO IS FUNDING SOUTH AFRICA’S POLITICAL PARTIES?

Using The Outlier data gathered from the Electoral Commission of South Africa (IEC), Daily Maverick succinctly contextualises who is funding South Africa’s political parties. Essentially, one single individual and a wealthy family are putting lots of funding behind the Democratic Alliance (DA). And some of the emerging political parties.

Currently, as far as funding goes, the Democratic Alliance has declared R164.3 million in donations. While the African National Congress trails with R148.3 million. A reminder that, by law, all political parties must declare any donations above R100 000 to the IEC.

Durban-born Martin Moshal, who lives in Sydney and has made a fortune in gambling technology, has been identified as the biggest single donor to local political parties. It is also understood he is a shareholder of the UK Betway gambling group. Moshal’s donations account for one-third of the total R437 million declared by the IEC.

A FAMILY AFFAIR

However, one of the single largest sources of funding for South Africa’s political parties is the Oppenheimer family, which is Africa’s third-richest family. According to Daily Maverick, 42% of the DA’s money comes from the Oppenheimers and Moshal. Also, Rebecca Oppenheimer donated R15 million to Rise Mzansi, which equates to 90% of that party’s funding.

Furthermore, investment companies Fynbos Ekwiteit and Fynbos Kapitaal contributed R65 million to the DA, making up one-third of the party’s total funding. The aforementioned companies count Capitec founder Michiel Le Roux as one of their directors.

ANC FUNDING

Conversely, half of the ANC’s funding comes from established trusts like Batho Batho and Chancellor House, who are only funding the ANC. Their donations amount to R82 million. Furthermore, a large quotient, roughly one-quarter of the party’s funds come from mining companies. R30 million of which originates from the United Manganese of Kalahari.

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