Business Unity South Africa (BUSA) President Sipho Pityana has welcomed the signing of the Political Party Funding Act by President Cyril Ramaphosa today.

“It has been a long time coming, but the Political Party Funding Act is finally here — bringing with it a new era of transparency and accountability,” says Pityana, who has played a central role in mobilising for the legislation – first in his capacity as chairman of CASAC and later as convenor of the Save South Africa campaign.

“Civil society played an important role in shaping this legislation, recognizing it as a crucial instrument in breaking corrupt relationships between political parties and questionable benefactors,” says Pityana.

“As organised business, we welcome the formal signing of the legislation, and trust parties will move with speed to comply. Transparency around party funding is essential as it helps us to identify funders and recipients, which holds both political parties and business to account and inhibits corruption. It also ensures greater transparency around foreign funding, which is essential given the geopolitical space we find ourselves in.

“Equally important is the new transparency around donors to the Independent Electoral Commission, as we will have a clearer understanding of who may be trying to bankroll their way to business success through party performance.”

Pityana called on parties to comply with the legislation as soon as possible, and emphasised the importance of business complying with its own anti-corruption prescripts.

“Even though state capture is being tackled through the increasing determination of the criminal justice system, there is still much more to do to contain and eventually eliminate corrupt practices, to ensure public money goes where it is most needed.”

ends

Sipho M Pityana

President of Business Unity South Africa