The Electoral Commission\u2019s fourth quarter political funding disclosure report reveals that Naspers gave R2 million to the ANC and the DA.<\/p>\n
The report, released two weeks before the generation elections, covers donations from 1 January to 31 March 2024.<\/p>\n
For the first time since the inception of the Party Funding Act, the declared value of donations has surpassed R100 million in any one quarter.<\/p>\n
In the first three months of the year, political donors gave R172 million to South Africa\u2019s political parties.<\/p>\n
This is higher than all of the quarters previously reported on and the combined quarterly disclosures reported during the previous two financial years.<\/p>\n
The Democratic Alliance (DA) received the most funding, R65 million, followed by the now-defunct Change Starts Now, which received R39 million.<\/p>\n
Other big beneficiaries include the Inkatha Freedom Party (IFP), which received R20 million, the African National Congress (ANC), which received R17 million, and Rise Mzansi, which received R15 million.<\/p>\n
The biggest donors included Jonathan Oppenheimer and Nicky Oppenheimer at R20 million each, Main Street 1564 at R27 million, and We Are The People at R16 million.<\/p>\n
One donor that stood out was from Naspers, which gave R2 million each to the Democratic Alliance (DA) and African National Congress (ANC).<\/p>\n
Other large companies, like African Rainbow Minerals and Harmony Gold, gave proposal funding to the ANC, DA, EFF, and FF Plus.<\/p>\n
However, Naspers broke this trend and donated equal amounts to the largest two political parties.<\/p>\n
It may be that it did not want to support the business-unfriendly and leftist EFF and favoured the centrist DA.<\/p>\n
It is also interesting that Naspers does not have much interest in South Africa outside of its holdings in Takealot and Media24.<\/p>\n
Although the company is still officially based in South Africa, it is essentially an Amsterdam-based Internet investment firm.<\/p>\n
Its significant holding in the Chinese technology giant Tencent through Prosus accounts for most of Naspers\u2019 value.<\/p>\n
All of Prosus\u2019 other biggest holdings, like OLX, Delivery Hero, Swiggy, iFood, and Stack Overflow, have nothing to do with South Africa.<\/p>\n
Naspers and Prosus\u2019 biggest remaining link to South Africa is its chairman, Koos Bekker. The leadership team is mostly global executives.<\/p>\n
Its new CEO, Fabricio Bloisi, former CEO Bob van Dijk, and acting CEO, Ervin Tu, have virtually no ties to South Africa.<\/p>\n
It is unclear who decided on Naspers\u2019 South African political funding decision. It may be Bekker, Naspers South Africa CEO Phuthi Mahanyele-Dabengwa, or a company decision.<\/p>\n","protected":false},"excerpt":{"rendered":"
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