Mashatile said while the ANC has been battling with funding, “our efforts of fundraising have not died completely”.
“It is difficult, but we are surviving. We have paid all our staff to date. We will pay them this month, next month and the other month.
“We will also be able to hold a successful conference and be able to pay our creditors, pay for venues, for hotels; we are raising funds. We are not rich, but we are surviving.”
Mashatile confirmed the ANC has asked home affairs minister Aaron Motsoaledi to look at amending the Political Party Funding Act. “We have presented our proposals.”
He said they have been battling with funding because of the funding environment, as many companies are reluctant to disclose and because of the limit on how much a donor can donate in a year — R15m.
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ANC confirms plans to sell some of its assets but denies link to recent financial struggles
Buildings of historical and political value to the party, such as its former headquarters in Lusaka and head office in London, will remain, it says
Image: Freddy Mavunda
The ANC has confirmed it is planning to sell some assets but says this has nothing to do with its poor finances.
ANC treasurer-general Paul Mashatile said the party has decided to consolidate its assets, which include property abroad.
“As you know the ANC was in exile for many years. We took a decision that we should look at the state of some of those assets but also look at the assets we have in the country.
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“We took a decision that we will put all our properties in one company so that it’s easy to manage them.
“However, there are properties in other countries we will not need to use any more, and those will be sold.”
Assets of historical and political value to the party, such as its former headquarters in Lusaka and head office in London, will be preserved, he said.
The Daily Maverick reported on Monday that Mashatile presented a financial report to the national executive committee meeting at the weekend which revealed that the party is R500m in debt.
Citing sources, the publication said the ANC has R5bn worth of assets, some in London and Zambia, which it would be looking to sell.
Mashatile ‘spends his time scrounging for money’ to pay Luthuli House workers: Ramaphosa
Mashatile said while the ANC has been battling with funding, “our efforts of fundraising have not died completely”.
“It is difficult, but we are surviving. We have paid all our staff to date. We will pay them this month, next month and the other month.
“We will also be able to hold a successful conference and be able to pay our creditors, pay for venues, for hotels; we are raising funds. We are not rich, but we are surviving.”
Mashatile confirmed the ANC has asked home affairs minister Aaron Motsoaledi to look at amending the Political Party Funding Act. “We have presented our proposals.”
He said they have been battling with funding because of the funding environment, as many companies are reluctant to disclose and because of the limit on how much a donor can donate in a year — R15m.
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Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
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