It’s about time the IEC investigates ANC, says ActionSA

ActionSA says it’s time for the Independent Electoral Commission (IEC) to Investigate the ANC for the alleged R102 million debt settlement with Ezulweni Investments, which the party says President Cyril Ramaphosa must avail to the public.

National Chairperson Michael Beaumont says what’s of particular interest is that the ANC disclosed total donations of R10 million from Chancellor House for the 3rd quarter of the current financial year.

DEBT SETTLEMENT COULDN’T HAVE BEEN FUNDED BY DONATION

“The quarter under question is the same quarter under which the ANC issued a 2-line press statement in December last year announcing that their R102 million debt settlement with Ezulweni Investments had been settled.”

“Despite a public commitment from President Ramaphosa to make the details of the settlement available, no such information has ever been provided,” said Beaumont. He said the ANC had confirmed their suspicions about the Ezulweni Debt Settlement.

“The likelihood is that R102 million debt settlement, plus interest over the four years it accrued, could not have been funded by a donation disclosure of R10 million,” he said.

IEC NOT INVESTIGATING WOULD RENDER THE PARTY FUNDING ACT MEANINGLESS

Beaumont says that should the IEC not investigate this matter; it will render the Party Funding Act meaningless.

“Those parties that adhere to the rule of law comply while those who have demonstrated a propensity for corruption ignore the provisions. Similarly, great and unjust criticism is leveled against donors who lawfully and transparently donate towards political change in South Africa. At the same time, no attention is placed on those who fund corrupt parties away from public scrutiny,” he said.

LIKELIHOOD OF DEBT SETTLEMENT IMPOSSIBLE, SAYS BEAUMONT

“The fact that no donation-in-kind was reported by the ANC from Ezulweni Investments would suggest that the company did not discount the settlement by even as much as R100 000 – an unlikelihood in the settlement of such a large debt.”

“Furthermore, the likelihood that the terms of a debt settlement could be funded by donations valued at R10 million (against R102 million plus interest over four years) is impossible,” he said.

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