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The law represents a new era for South African democracy, according to the IEC. (Photo: Deaan Vivier / Gallo Images)
- The Political Party Financing Law enters into force on April 1.
- It has been hailed as a victory for transparency and democracy.
- The IEC said that all systems are in their favor.
The long-awaited Political Party Financing Law has been described as a victory for transparency and accountability.
This is according to the lobby group My Vote Counts, which praised the law, which will take effect on Thursday, as a victory.
The Electoral Commission of South Africa (IEC) said that “all systems work” to implement the Act that aims to provide transparency on who finances political parties.
President Cyril Ramaphosa signed the Act in January 2019 and signed it into law in February this year.
The contested law seeks to regulate the public and private funding of all political parties in an effort to establish transparency and trust regarding who donates to political actors in South Africa.
“The beginning of the Act will see the first quarterly disclosures – the sources and amounts of private funds received by political parties – will be available to the public before the elections,” My Vote Count said.
It was a three-year struggle for the organization that brought him to the Constitutional Court, and the new law will now allow the electorate to know who finances political parties.
The ruling comes at a crucial moment when the country is ready to head to local elections.
ANALYSIS | Political Party Financing Act: What It Means For South Africans
Analysts say this is a step in the right direction. North West University Professor Barry Hanyane told News24 that, during this new dawn of democracy in the country, accountability would be very important. He said the Act would eliminate many challenges, especially with the abuse of state resources by criminals disguised as Good Samaritans.
Hanyane said:
It tells us that the days when elections were used as a source of money laundering and other white-collar crime activities are long gone. Including by the way the notions of illicit financial flows. Including companies outside our borders are involved in terms of moving money in the name of donation to certain political parties.
The law takes a closer look at international donors of political parties, a long-standing bone of contention.
“Such a donation must have a purpose. And the law talks about issues of policy development, training of political parties, staff members and these must also declare. So, in general, the law tells us that the degree of transparency and accountability Accounts must be at the forefront to ensure there is some oversight, “Hanyane said.
READ | ANC’s drying pit will be the most squeezed by the Political Party Financing Law
Meanwhile, the IEC said that the implementation of the law would usher in a new era in South Africa’s electoral democracy.
“All political parties [will be required] disclose donations over R100,000 to the Electoral Commission. The Law also places restrictions on the sources of funding for political parties, including a ban on donations from government departments, state entities, and foreign governments and agencies, “the commission said in a statement.
Now, all registered political parties have been urged to enroll in the Online Party Financing System.
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The site will allow parties and their donors to make electronic disclosures to the IEC through the website.
The commission says it has also been engaging potential funders to support the Multi-Party Fund for Democracy.
“As part of its fundraising campaign to encourage donations to the Fund … this Fund presents a perfect opportunity for businesses, individuals and foundations to support multi-party democracy on a non-partisan basis,” the commission said.
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