Political parties should steer away from having any direct interest in investment vehicles, ANC treasurer-general Zweli Mkhize said on Wednesday. In his submission to Parliament’s ad hoc committee looking into the funding of political parties, Mkhize confirmed that his party had received funding from the Gupta family. Mkhize claimed that the Guptas had also funded other parties including the DA. Mkhize noted that new legislation such as the Financial Intelligence Centre Amendment Act (Fica) meant that political parties’ investment vehicles could be seen as “compromised” in a way. The ANC has its own investment arm, Chancellor House, which has reportedly benefited from state contracts worth billions of rand. “Our considered view is that we should disallow direct party political investments … the issue here is of direct party shareholding … the reason we are saying this is because there is currently a number of [laws] that will make this area a little bit more [difficult],” said Mkhiz...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.