IEC Publishes First Quarter Political Funding Disclosure Report for 2024/25 FY

In a statement on Monday, the IEC commended the political parties that voluntarily made declarations during the reporting period, despite the lack of a legal obligation to do so.

The Electoral Commission (IEC) has released the first quarter Political Funding Disclosure Report for the financial year 2024/25, covering the period from 1 April to 30 June 2024. This report marks the first disclosure since the inauguration of the seventh parliament and administration, following the national and provincial elections held on 29 May 2024.

In a statement on Monday, the IEC commended the political parties that voluntarily made declarations during the reporting period, despite the lack of a legal obligation to do so. The Commission highlighted this as a strong indication of the parties' commitment to financial transparency, which is crucial for strengthening electoral democracy in South Africa.

The IEC also called on the National Assembly to swiftly finalize its processes and resolve the issue of thresholds, enabling the President to gazette them and address the existing gaps in the regulations.

For this quarter, political parties declared a cumulative amount nearing R200 million, with a total of R189,950,829 disclosed. This represents the highest value of donations reported in any quarter since the implementation of the Political Funding Act, reflecting the influence of the election season on donation patterns.

A total of 14 political parties declared donations in the first quarter of 2024/25:

ActionSA – R13,186,000

African Christian Democratic Party (ACDP) – R240,000

African National Congress (ANC) – R26,015,313

Build One South Africa (BOSA) – R12,877,709

Change Starts Now – R150,000

Democratic Alliance (DA) – R56,601,039

Economic Freedom Fighters (EFF) – R515,313

GOOD – R600,000

Inkatha Freedom Party (IFP) – R38,340,000

Independent Civic Organisation of South Africa (ISANCO) – R100,000

Patriotic Alliance (PA) – R6,649,900

Rise Mzansi – R33,895,000

South African Rainbow Alliance (SARA) – R400,000

uMkhonto Wesizwe Party (MKP) – R380,555

The report noted that while there were few first-time donors during this period, a significant number of repeat donors made substantial contributions across multiple political parties, particularly targeting newer or recently established parties.

This record-breaking disclosure underscores the financial dynamics of the 2024 election season and highlights the growing emphasis on transparency and accountability in political funding.