- Jun 12, 2013
The ANC’s financial woes could undermine the party’s bid to recast itself as a well-run steward of the country
01 SEPTEMBER 2021 - 22:43HAJRA OMARJEE AND THANDO MAEKO
The governing ANC is choking under a debt burden of more than R200m, forcing tax authorities and the Unemployment Insurance Fund to garnish millions from the party’s bank account every month for some years now as it has scrambled to keep up with payments.
When Cyril Ramaphosa took office as party president in December 2017, the ANC owed more than R100m to the SA Revenue Service as it grappled with over R400m in total debt. The debt started accumulating in 2010, three years after Jacob Zuma won the party’s internal election to become its leader. This means that while Zuma was president of SA the ANC was not paying taxes and unemployment benefits for staff during the period of state capture...
More at https://www.businesslive.co.za/bd/p...es-on-r200m-debt-and-disorder-ahead-of-polls/