President Cyril Ramaphosa. Picture: GCIS/ELMOND JIYANE
President Cyril Ramaphosa. Picture: GCIS/ELMOND JIYANE

No, Mr President, the new Political Party Funding Act will not end corruption.

The promulgation of the act is indeed a historic step towards transparency and accountability. But it is dismaying that it has taken this long to go into effect after it was signed into law nearly two years ago.

The act regulates private and public funding of political parties, with public declarations of the source of funding required for donations of more than R100,000. It also limits parties from receiving more than R15m from a single donor.

President Cyril Ramaphosa should be lauded for signing the act into law, even in the face of resistance from his own party. Its promulgation is yet another step cementing his reform agenda. But it is no panacea for corruption.

Corruption is going nowhere until there are consequences for it. It is also going nowhere while there is a concerted effort by the state to hide the true extent of the rot in the way state security minister Ayanda Dlodlo did this week when she tried to block acting intelligence director-general Loyiso Jafta from testifying at the state capture commission of inquiry, citing "national security".

It will take more than this legislation to turn the tide on corruption, which has been so destructively entrenched over the past decade.

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