IEC says ready to take responsibility to administer political party funding
Under the Political Party Funding Act parties have to transparent about where they get their money from.
CAPE TOWN - The Independent Electoral Commission (IEC) on Friday said that political parties would for the first time in South Africa’s history have to declare their funders publicly in July.
Under the Political Party Funding Act parties have to be transparent about where they get their money from.
The act has been signed into law and will come into effect from April.
The IEC said that it was more than prepared to take on its new responsibility of administering political party funding.
Parties will have to declare all donations of more than R100,000 and these will be published by the commission and submitted to Parliament.
IEC deputy chairperson Janet Love said that South Africans would know by the local government elections later this year, exactly who funded which political party.
“It means that political parties will be required to declare all donations above this threshold that have taken place between April and June this year by no later of the end of July 2021. As I have mentioned earlier, we intend to make these reports available online ahead of the local government elections.”
But chairperson Glen Mashinini has cautioned against thinking that the act would resolve issues associated with party funding.
“Let me also issue a word of caution against viewing the political party funding as a solution to all the challenges and dangers and risks associated with the funding of political parties.”