We are not bankrupt: ANC
The African National Congress (ANC) has rubbished claims that it is bankrupt, following a news report in the Mail & Guardian, entitled: The ANC is broke.
The M&G claimed that the ruling party is struggling to stay afloat after Parliament cut its funding by R20-million after election losses. The publication cited an official at Luthuli House, along with other ANC insiders.
The paper noted that ANC secretary general Gwede Mantashe admitted that the party was ‘struggling’ financially after Parliament’s decision when it lost 16 parliamentary seats in the May general elections.
It also lost 16 seats in five provincial legislatures.
However, the ANC hit back in a statement on Friday, refuting the claims that it was broke.
“The African National Congress refutes the claim made on the allegation of bankruptcy. This is contrary to the fact that the financial situation has improved albeit the negative impact of our reduced seats in parliament. We have been able to run the organisation and met all our financial obligations. It is nothing new that political organisations in South Africa operate from tight budgets owing to the funding model.
“It needs to be pointed out that the ANC has always and continues to rely on donation from external sources and that has not changed. It is equally not true that ANC employees were not paid salaries. The ANC has met its monthly obligation of paying out salaries as expected.”
The political party added that it has not retrenched its staff, as claimed by M&G.
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