By Paul Richardson
(Bloomberg) – South Africa’s president approved legislation that will regulate public and private funding of political parties.
The Political Party Funding Act prohibits donations by foreign governments and agencies, and precludes members of political parties from receiving donations other than for political-party purposes, the presidency said in a statement Friday. It will come into operation on April 1.
The act “will have far-reaching consequences for good governance and ethical political activity,” the presidency said. “It will strengthen the confidence of citizens in the democratic political process and enable them to assert their right to information.”
In a historic development for transparency and accountability in South Africa, President @CyrilRamaphosa has determined that the Political Party Funding Act will come into operation on 1 April 2021. https://t.co/9ErEEldib4
— Presidency | South Africa 🇿🇦 (@PresidencyZA) January 22, 2021
Read the statement here.
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