Funds raised would go "towards offsetting the costs of the main conference," Progress Business Forum (PBF) co-convener Daryl Swanepoel told the Sunday Times.

The PBF, the conference organisers, expected 750 guests to attend a banquet and 180 company executives and representatives at different breakfasts.

In the invitations sent out two weeks ago, ANC treasurer-general Mathews Phosa said the dinner and events were "a unique opportunity created for the corporate sector to engage the ANC leadership on its economic and social policies".

He said there would be opportunities to speak to economic leaders in an informal but structured setting.

A spokesman for businessman Patrice Motsepe confirmed that the mining magnate had already bought a table.