The secretive billionaire who pumped R118 million into major political parties in South Africa
South African-born internet entrepreneur, venture capitalist, and philanthropist Martin Moshal, who accumulated his wealth primarily through the online gaming industry, has donated R118 million to political parties over the last five years.
Moshal was born in Durban and studied business science at the University of Cape Town.
In 1994, Moshal co-founded Microgaming and launched casino.co.za. He developed foundational patents for online gambling technologies, including the world’s first online progressive jackpot slot game.
He also provided support to major operators, including Betway, and made significant political contributions in South Africa.
Microgaming powers Betway, which offers sports betting, online casinos, online poker, and online bingo. Moshal is also one of Betway’s backers.
While his exact wealth is undocumented, his ties to multi-billion-dollar ventures and funds has led many reports to confidently characterise him as a billionaire, especially in rand terms.
Although Moshal no longer lives in South Africa—he is currently based in Australia—he remains a major player in its political landscape through his large donations.
The latest Electoral Commission of South Africa (IEC) Political Party Funding report showed that Moshal continues to donate millions to political parties.
Over five years, he donated R48 million to the Democratic Alliance (DA), making him the party’s second-largest donor.
In anticipation of the 2026 Local Government Elections, he contributed an additional R5 million.
His contributions extended to several other political parties as well. He donated R47 million to ActionSA, making him their largest donor, and included R5 million ahead of the 2026 local elections.
He also donated R15.5 million to Build One South Africa (BOSA), which made him BOSA’s largest donor, and contributed R7.5 million to the Inkatha Freedom Party (IFP).
There are growing concerns that Moshal’s multi-million Rand donations could create conflicts of interest or deter political parties from supporting strict bans on online gambling.
Many commentators have raised concerns that the political parties which received donations from him are less likely to support a ban on online gambling.
The Democratic Alliance (DA) is against a complete ban on online gambling. They believe that banning it would push users towards illegal operators, similar to the problems seen with tobacco and alcohol bans.
Instead, the DA advocates for an updated National Gambling Act to strengthen regulation and enhance protections for users.
High-net-worth individuals giving millions before elections
A small group of high-net-worth individuals and trusts contributes a significant share of direct private funding, which sparks debate over whether major donors can influence legislative priorities.
The IEC Political Funding Report shows that registered political parties disclosed R230,956,140 in direct private donations over 79 declarations for the 2024/25 financial year.
Most of this amount, R189.85 million, was reported in the first quarter. Jonathan Oppenheimer donated R30 million, with half going to the Democratic Alliance (DA) and the other half to the Inkatha Freedom Party (IFP).
The Batho Batho Trust gave R25 million to the African National Congress (ANC), while Fynbos Ekwitiet and Fynbos Kapitaal together contributed R30 million to the DA.
Both Rebecca and Nicholas Oppenheimer donated R15 million each, with Rebecca supporting Rise Mzansi and Nicholas supporting the IFP.
We Are The People contributed R15 million to Rise Mzansi, and the Chancellor House Trust donated R11 million to the ANC.
Public funding for represented parties from Parliament and eight provincial legislatures, excluding the North West, totalled R1,623,506,744.
This includes R568.38 million from Parliament and R1.055 billion from the provincial legislatures.
During the 2024/25 financial year, the Multi-Party Democracy Fund received R30,885,951 in private donations.
Major corporate contributors included Exxaro Resources with R25 million, Standard Bank with R2.5 million, and Discovery with R500,000.
Following the May 2024 elections, the number of represented parties in South Africa increased from 15 to 20.
Eight new parties entered the political scene, including ActionSA, BOSA, RISE Mzansi, PA, and MK, while three legacy parties—COPE, AIC, and MF—lost their representation.
The report highlights the enhanced regulatory authority of the Electoral Commission (IEC), which now has the power to issue directives and impose administrative fines on political parties for failing to comply with financial reporting requirements or for late disclosures.
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