The IEC has released its latest political funding report

The Electoral Commission (IEC) has released its latest political funding report, showing parties declared just over R230 million in private donations for the 2024/25 financial year.

The report reveals a small pool of wealthy donors behind much of that money.

Members of the Oppenheimer family gave R15 million, spreading a combined R60 million across the Democratic Alliance (DA), the Inkatha Freedom Party (IFP) and Rise Mzansi.

Gambling entrepreneur Martin Moshal, who owns Betway, donated more than R26 million between ActionSA, Build One South Africa (BOSA), and the Inkatha Freedom Party (IFP).

The DA was the biggest beneficiary overall, banking around R68 million boosted by two related investment firms, Fynbos Ekwitiet and Fynbos Kapitaal, which gave R15 million apiece. 

The African National Congress declared donations totalled around R53 million, including R25 million from its own Batho Batho Trust.

Separately, corporate giants topped up the state-run multi-party democracy fund.

Mining company Exxaro contributed R25 million, while Standard Bank and Discovery added a further R3 million between them.

The commission says disclosure compliance remains patchy, with some parties still failing to fully declare their funding, and it's warned that enforcement powers will be tightened ahead of the next election cycle.

For now, the numbers confirm what analysts have long suspected that a handful of wealthy families and corporations continue to bankroll the bulk of South Africa's party politics.