{"id":2230,"date":"2010-11-01T00:00:00","date_gmt":"2010-11-01T00:00:00","guid":{"rendered":"https:\/\/amabhungane.org\/amabhungane\/stories\/the-politics-of-money-in-south-africa\/"},"modified":"2010-11-01T00:00:00","modified_gmt":"2010-11-01T00:00:00","slug":"the-politics-of-money-in-south-africa","status":"publish","type":"post","link":"https:\/\/further.co.za\/amabwp\/the-politics-of-money-in-south-africa\/","title":{"rendered":"The politics of money in South Africa"},"content":{"rendered":"

This is Sole’s contribution to the book, a collection of papers entitled “Paying for Politics: Party Funding and Political Change in South Africa and the Global South” edited by Anthony Butler and published by Jacana: <\/em><\/p>\n

In April 2010 Jabulani Sikhakhane, an eminently sensible commentator for Business Day, set out a rather astonishing proposition. In his column he wrote that South Africans should not be dismayed at the prospect of the ruling African National Congress (ANC) making up to a billion rands in profit from a contract to build a new coal-fired power station for the state-owned electricity utility, Eskom.<\/p>\n

The profit would flow from a 25 per cent shareholding in Hitachi Power Africa, which won the tender to supply the boiler sets for two new Eskom stations.<\/p>\n

The share is held by a company called Chancellor House, which the party has reluctantly acknowledged is an ANC investment vehicle.<\/p>\n

Critics have labelled the very notion of the ANC profiting from doing business with the state which its government leads as ‘corruption on a grand scale’, to quote Helen Zille, leader of the opposition Democratic Alliance. Zille has argued that the potential benefit to the ruling party is so large that it is a threat to democracy, because of the scale of funds flowing to the ANC.<\/p>\n

Hitachi has said the profit to Chancellor House will be modest – in the region of R50m.<\/p>\n

Click here to read the full article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In his chapter in a new book, Paying for Politics, Sam Sole traces the link between the ANC’s cadre deployment policy, BEE and its business interests.<\/p>\n","protected":false},"author":2,"featured_media":24367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stories"],"acf":[],"_links":{"self":[{"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/posts\/2230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/comments?post=2230"}],"version-history":[{"count":0,"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/posts\/2230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/media\/24367"}],"wp:attachment":[{"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/media?parent=2230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/categories?post=2230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/further.co.za\/amabwp\/wp-json\/wp\/v2\/tags?post=2230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}