First, some history. For years, political parties resisted the publication of donations, for various reasons. The Democratic Alliance was worried that if donations by SA corporates were publicised, those corporates would be at risk of being negatively prejudiced by the government. And the ANC was worried that if donations by SA corporates were publicised, they would not be able to positively prejudice their corporate supporters.
If you thought the above was cynical, try this: I suspect that corporate funding for the ANC had, at this point, more or less dried up because of the slide into corruption. So, the ANC was more in favour of the legislation because it wanted to prevent the DA from getting too much support. Well, who knows. But anyway, the legislation was presented in 2018 and passed in 2021.
The ANC list is also pretty small, and it has really only two major donors: its own companies. And those are the Batho-Batho Trust, which is constituted mainly by the local business of the Dutch oil company Shell. And then there is the United Manganese of Kalahari , and therein lies a bit of a story.
Over the past 20 years or so, the SA manganese industry has been the one part of the metals spectrum which has absolutely flourished. There are now 22 operating manganese mines; 18 of which were established after 2006.This development has been largely invisible to South Africans because only four of those mines are part of listed entities – an extraordinary demonstration of the decoupling of SA’s mining industry from SA’s capital markets.
Absolutely makes sense .. i
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dailymaverick - 🏆 3. / 84 Read more »
MARK BARNES: Stealing has become the business endeavour of choiceOur state enterprises are structured in a way that invites crooks to step in, knowing they won’t get caught When I studied BCom in the 90's kickbacks, inflated prices, extortion, bribery, sabotage, state capture, fraud, cartels, shoddy repairs, etc were not included in the curriculum. Today it is prescribed for grade R. We thought JR was a baddy and two sets of bookkeeping criminal. It started with Aperthied regime which made it to law then after democracy it continued with race observations even media can write false article, make money etc. Those pulling the strings continue to do so.... mark_barnes56 EXACTLY!!! Its Historical in S A Politics. Eschel Roodie started it. And Others continued.
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
STEVEN KUO: Business must keep one eye on geopolitics, another on Brics expansionANC chose to stand against the West, but local firms can benefit by pursuing other opportunities
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: News24 - 🏆 4. / 80 Read more »