South African Parliament has granted President Cyril Ramaphosa the authority to determine the limits and thresholds for political donations, following the enactment of the Electoral Matters Amendment Act, which nullified previous regulations, reports News24.
Effective last Wednesday, May 14, this Act removed the requirement for political parties and independent candidates to declare donations of R100,000 or more and capped donations from a single donor at R15 million (about $824,000) annually.
Consequently, there are currently no restrictions or mandatory declarations for political donations. Parliament adopted a resolution to allow Ramaphosa to set these limits urgently and to present comprehensive draft regulations within six months.
With no limits currently in place, fears are mounting over the potential for unchecked donations ahead of the 2024 elections.
