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Anxious donors: Unintended consequence of new party fun
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Political Party Funding Act now in effect, parties must keep records of donations
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IEC to implement Political Party Funding Act ahead of local elections
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With the Political Funding Act expected to come into effect on April 1, the first quarterly report on political funding donations is expected to be presented before South Africans head to the polls to vote in the local government elections.
The IEC on Wednesday thrashed out finer details of how the Act will govern what many hope will mark the beginning of greater transparency in who funds political parties.
The Act was signed by President Cyril Ramaphosa last year.
The IEC had to set-up a mechanism of conducting its new powers and administrative duties to ensure the act is adhered to.
Media should police political party funding
By Opinion
Mushtak Parker
LONDON: The world is mired with mitigating the ravages of new Covid-19 variants and vaccine accessibility and inequality, but the new year has witnessed two landmark developments in taking back ethics and accountability into democratic politics and corporate governance, whose impact will reverberate beyond national borders.
South Africa and America are leading from the front.
Almost unnoticed a few days before the US Capitol siege by pro-Trump extremists â an assault on democracy incited by the outgoing president himself â the US Congress on January 1 passed the historic Corporate Transparency Act into law. It effectively bans anonymous shell companies in the country â paving the way for a new global standard on beneficial ownership transparency.
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