Chancellor House assets on the block
The ANC has come up with an ambitious plan to ensure the party stays afloat financially and to modernise the running of its operations.
As part of the plan, the party intends to sell the assets of its investment arm, Chancellor House.
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According to the proposal, the ANC will establish a separate legal entity, Luthuli House Trust.
Chancellor House will be liquidated and the cash received for its assets will be put into an endowment trust.
The Sunday Times understands that the plan was due to be presented as part of the financial report delivered by outgoing treasurer-general Zweli Mkhize at the ANC’s national conference last night.
The redesign would separate the party from the running of the organisation, and the new legal entity would be responsible for day-to-day administrative operations.
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