ActionSA initiates legal proceedings to obtain Ezulweni Investments
4 March 2024
ActionSA has initiated legal proceedings to obtain the R102 million debt settlement agreement entered into between the ANC and Ezulweni Investments. This is in addition to a written request to the IEC Political Party Funding Unit to investigate this agreement for alleged breaches of the Act.
This arises from the funding disclosures on Thursday in which the ANC announced R10 million in donations in the quarter in which they publicly communicated the settlement of their R102 million debt. The likelihood of any debt settlement being lawful under these circumstances are almost impossible given that it would require that:
Interest on the debt must have been included in any settlement.
No discount could have been offered of greater than R15 million.