Absa stops all political donations

[Ike_009]

guess they will find a other way to get money now. Tax ??

No political party has any right to levy tax, not even the ANC. If you guys read the article you would see donations are now being given to NGOs (essentially social responsibility donations), there was nothing sinister or corrupt about these donations.

Not everything regarding politics and money is evil.

[Lydon]

I don't understand why ABSA was blindly donating to parties with over 3 seats in Parliament in the first place. Why exclude the smaller parties? I'm sure this money will be better used by NGO's.

[Ike_009]

I don't understand why ABSA was blindly donating to parties with over 3 seats in Parliament in the first place. Why exclude the smaller parties? I'm sure this money will be better used by NGO's.

Basically they don't want to give money to small parties like KISS who don't do anything until election week, it's just a waste.

However I like the independent financing in that it limits parties reliance on side businesses to fund it's operations which could lead to corruption (IE you fund those you have faith in), but with all the issues lately I don't think there is faith in our political parties which may be why ABSA is pulling out.

[Lydon]

Basically they don't want to give money to small parties like KISS who don't do anything until election week, it's just a waste.

However I like the independent financing in that it limits parties reliance on side businesses to fund it's operations which could lead to corruption (IE you fund those you have faith in), but with all the issues lately I don't think there is faith in our political parties which may be why ABSA is pulling out.

Yeah, as far as I'm concerned parties should have to continually convince donors as to why they're worthy of their funds in the same way they've got to convince voters at the polls. "Automatically" receiving donations from the likes of banks is a big no-no for me. I'm glad ABSA have seen the light.

[Snare]

How so?...

Essentially now parties will be more desperate for financing and will probably have even less scruples about their avenues of revenue than what they have now...