Parties lose millions of rands in election deposits

SABC News IEC 4 - Parties lose millions of rands in election deposits

Over 30 political parties who contested the General Elections have lost millions of Rands in deposit to the Electoral Commission after failing to garner enough seats in the National Assembly and the Provincial Legislatures.

Parties had to each pay R200 000 to contest the national election and R45 000 per province contested.

All deposits to contest elections are non-refundable. The forfeited funds go into the National Revenue Fund.

Temba Godi’s African People’s Convention and Hlaudi Motsoeneng’s African Content Movement are among those who paid R605 000 into the fund, as they contested all provinces.

The Black First Land First party, which contested four provinces and the national ballot, has forfeited R380 000.

Agang SA, which lost its spot in Parliament, contested five provinces and the national ballot and lost R425 000.

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