National Assembly approves Political Party Funding Bill

Once it becomes law, the bill will introduce a strict regime governing the private funding of political parties in Parliament and provincial legislatures.

Picture: Supplied.

CAPE TOWN - The National Assembly has approved the Political Party Funding Bill, which aims to put an end to the secrecy surrounding private donations.

Once it becomes law, the bill will introduce a strict regime governing the private funding of political parties in Parliament and provincial legislatures, ensuring greater transparency and accountability.

It provides for a multi-party democracy fund which will be run by the Independent Electoral Commission.

The African National Congress has hailed the bill as “historic”, the first serious attempt in 24 years to regulate party financing, and it was supported by most parties.

But the Democratic Alliance says it doesn’t go far enough.

“So we support this bill with major misgivings. It is using a sledgehammer to swat a fly and it fails in our view to address the real problem which is the abuse of state resources for election purposes.”

The Economic Freedom Fighters is opposed to the bill, saying it will do little to deal with the power imbalances between parties.

The bill must now be passed by the National Council of Provinces before it can be signed into law.