Rise Mzansi leader Songezo Zibi has defended the party's declaration of a R30 million loan write-off as a donation, arguing that the arrangement is fully compliant with South Africa's Political Party Funding Act.
Rise Mzansi leader Songezo Zibi has defended the party's decision to declare a R30 million loan write-off as a donation, arguing that the arrangement fully complies with South Africa's Political Party Funding Act.
Speaking at a media briefing on Monday in Johannesburg, Zibi said the loan was originally obtained from the organisation “We Are The People” to fund the party's 2024 election campaign.
The debt was later written off after the party struggled to repay it.
He said the party had paid more than R1 million towards servicing the loan but was unable to settle the outstanding balance.
