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The ANC faces insolvency over an R85 million debt, risking its operations and public funding ahead of 2026 elections.
The African National Congress faces potential insolvency due to an R85 million debt to Ezulweni Investments, leading to frozen bank accounts and seized goods at its headquarters.
The party has struggled with irregular staff payments and may lose over R1 billion in annual public funding if liquidation proceeds.
Legal action by Ezulweni follows repeated defaults, despite prior partial payments.
The ANC disputes the debt, citing contract fraud and a novation agreement, but legal experts deem its defense weak.
The case threatens the party’s ability to operate ahead of the 2026 local elections and could expose opaque political donations, especially after a recent donation threshold increase.
El ANC se enfrenta a la insolvencia por una deuda de R85 millones, arriesgando sus operaciones y financiación pública antes de las elecciones de 2026.