ANC welcomes adoption of Political Party Funding Bill by the National Assembly
28 March 2018
The African National Congress (ANC) notes and welcomes the adoption of the Political Party Funding Bill by the National Assembly yesterday, 27 March 2018. The Bill now will now be referred to the National Council of Provinces (NCOP) for consideration.
This extremely important Bill covers the three basic principles outlined by the ANC’s 52nd and 53rd Conference Resolutions in relation to political party funding being the regulation of private funding of political parties, financial transparency and accountability of political parties; and enhanced public funding for activities that promote and support democracy.
Led by the former Treasurer General, Comrade Zweli Mkhize, the ANC had made written and oral submissions to the Ad Hoc Committee on Political Party Funding in July 2017 highlighting that enhanced public funding should only be considered in the context of and improved regulatory architecture for the financial operations of parties.
This Bill provides that framework for transparency and financial accountability, regulation of private finance and an increase public confidence in our democratic system.