African National Congress has 215 million Rand deficit
Party says it needs more money from state, should limit staff
South Africa’s ruling party is broke and plans to seek more money from taxpayers and cut staff costs to turn around its finances.
“The funding of ANC operations and political activities continues to be a challenge,” Mkhize said. “The cost of managing the organization is high and interventions are needed to bring the cost down.”
Mkhize, who was replaced by Paul Mashatile as ANC treasurer at the conference, urged his successor to curtail hiring. The ANC employs 339 people, up from 234 nine years ago. It spent 159.6 million Rand on salaries in the year through March, which accounted for 31 percent of its total costs.
Mkhize’s report shows that the ANC owns about 40 properties, with a book value of 309 million Rand. It plans to refurbish its former head office in Penton Street in central London, turning the ground floor into a museum to preserve the history of its struggle against white- minority rule and the upper floors into apartments that will be leased out or sold.
By : Sam Mkokeli and Michael Cohen/Bloomberg Politics