Just how much can the ANC make by asking members for a R50 monthly pledge?

Just how much can the ANC make by asking members for a R50 monthly pledge?

- The ANC's proposed plan to charge a R50 monthly membership fee has already received a lot of flak

- Some have accused it of taking money from the electorate with no guarantee that it would not be misspent or looted

- But how much money would the party actually earn from the membership fees?

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The ANC is reportedly considering switching its business model by receiving monthly payments from party members.

Members of the party said this was partly a move to try and reduce the threat of corruption and state looting.

However, the proposal has largely been criticised on social media.

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The proposed membership fee would be R50 a month. As the ANC has roughly 990 000 registered members, this would rapidly add up to huge amounts. Indeed, if this was implemented, it would mean that the ANC would earn just under R600 million a year from membership payments.

This would amount to slightly under R3 billion per presidential term, according The South African.

This follows a similar party funding model being adopted by certain parties in Turkey.

According to City Press, the move is also aimed at reducing the party's dependence on donations and support from big business.

The proposal follows the signing of a new bill which will closely regulate how much money political parties can receive from donors, as well completely forbidding parties from accepting money that they suspect have been earned through criminal activities.

READ ALSO: Social media calls for Soweto power to be cut until bill paid

The plan has not been accepted or approved yet, but it has already come under fire.

Online, some South Africans critised it for proposing to take money from the electorate, who are already largely cash-strapped due to a sluggish economy. 

Others said that the plan's justification that it would reduce state looting did not make sense, as there was no guarantee that the party wouldn't loot from the money earned through membership payments.

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Source: Briefly.co.za

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