South Africa: How State Capture Inc Funded the ANC

analysis

Regiments Capital's attempts to convert its political connections into contracts shows how money subverted the party.

Last month the Independent Electoral Commission (IEC) held public hearings on the Political Party Funding Act, which will force parties to disclose donations and, in the process, reveal how money shapes our politics.

At the same time, President Cyril Ramaphosa is under fire after a public protector report and a series of leaks identified those who bankrolled his CR17 campaign for the ANC presidency. As struggle veteran, Mavuso Msimang, put it: "He who pays the piper expects to call the tune."

This story offers one example of the corrosive effect of money in politics and how a politically-connected firm, Regiments Capital, built a financially symbiotic relationship with the ANC - attempting to convert donations into goodwill, lobbying into favours, and facilitation fees into contracts.

But it is really a story about the cancer eating the ANC and how a supposedly loyal funder fueled the toxic practices that are killing the party.

***

The bar tab that night was nearly R6,000.

Compared to the value of the contract it was intended to unlock, the bill should have been as insignificant to him as the hotel...

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