The EFF, led by firebrand politician Julius Malema, is finding it increasingly challenging to raise funds from the private sector amid internal and external factors affecting the left wing party, which has recently faced the defection of some senior members and electoral decline.
Malema, who is set to be voted in for a third five-year term as party leader at the EFF's elective conference this weekend, conceded during a presentation of his political report that the party’s funding sources has diminished of late “as public perceptions always dictate how people choose to support institutions”.
Since its inception in 2013 the party has built a significant following among disenfranchised voters who became disillusioned in the ANC. Its priorities include land redistribution and the nationalisation of critical sectors of the economy including the SA Reserve Bank.
Leading up to the elective and policy conference at Nasrec, in Johannesburg, the party has had to contend with being relegated from the third largest party in the country to the fourth. Its national support dropped to 9.5% in the May 29 general elections from 10.8% in 2019, allowing it to be overtaken by Jacob Zuma’s relatively young MK party.
Malema's former right-hand man and party deputy president Floyd Shivambu was the first senior leader to defect to MK in August. He was followed by others including Dali Mpofu, former public protector Busisiwe Mkhwebane and former EFF MP Mzwanele Manyi, who works for the Jacob Zuma Foundation.
Malema said on Friday funding for the party from business had declined as donors fear “victimization” and the Political Party Funding Act. The act caps donations to political parties by one donor at R15m a year, while all contributions over R100,000 must be declared.
The EFF is hoping to get this increased to R200,000 and wants the donation limit raised to R100m.
As an immediate remedy Malema suggested the party explore ways in which its leaders, down to branch level, be responsible for their own fundraising.
“Support for the EFF from the business sector has diminished because many of those who usually supported us were opportunistic and possibly corrupt. They thought they could gain something in return. However those who supported us with genuine intent have continued to contribute,” Malema said.
Malema once again described the defections as a betrayal. He said Zuma was misusing “black unity” to escape wrongdoing during his time as president of the country.
“The desperate need for black solidarity must not be taken advantage of by individuals who manipulate the black identity to avoid accounting for how they have jeopardised the cause of black liberation.”
“There are those in SA today who have discovered the cause of black unity which they previously undermined while in power,” Malema said.
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