Home South Africa News We don’t make donations to political parties – Absa

We don’t make donations to political parties – Absa

President Cyril Ramaphosa

Banking group Absa on Sunday rubbished claims that it made a donation to help fund President Cyril Ramaphosa’s ANC presidential campaign. As a policy, Absa does not make donations to political parties or politicians.

“Consequently, Absa did not make a donation to President Cyril Ramaphosa‘s ANC presidential campaign in 2017 or any other campaign of that nature,” it said in a statement.

This after the Sunday Independent reported that a group of politicians, including a minister and a deputy minister, were seemingly paid millions for their role in Ramaphosa’s successful 2017 ANC presidential campaign.

According to the newspaper, it has seen the campaign’s bank records and financial statements which identified the beneficiaries of the R1bn campaign funds.

Absa bank

In a statement on Sunday, Absa denied making a donation”Today we contacted Mzilikazi wa Afrika, one of the authors of the article who confirmed to us that Absa Nation Building was a transaction reference by third parties, not an entity.

“Thus, the link to Absa is purely coincidental. That name does not exist as an entity within Absa. It was reported that at least R8.4m was spent on hotel accommodation for ANC delegates at Southern Sun and Protea hotels.


It has also emerged from the financial statements that prominent businessmen donated large sums to the CR17 campaign ahead of the conference.

In a statement released on Saturday evening, presidency spokesperson Khusela Diko said the leaking of confidential banking information of funders was a breach of privacy.

“The selective circulation of this banking information is clearly intended to cast aspersions on the president, and follows the recent report of the public protector, in which there was a substantial focus on the funding of the CR17 campaign.

“Neither the president nor the campaign has done anything wrong, ethically or legally. It is a common and accepted practice in SA and across the world for parties and candidates to raise funding from donors for campaigns,” Diko said.

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Source: Timeslive