Explainer: How much it cost Ramaphosa to become president of ANC

Explainer: How much it cost Ramaphosa to become president of ANC

- According to the Public Protector's report, Cyril Ramaphosa's election campaign received just over R440 million in donations

- Ramaphosa claims that he contributed several million Rand himself

- Busisiwe Mkhwebane, however, says that these large amounts lend "merit" to allegations that the campaign may have been used to launder money

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Public Protector Busisiwe Mkhwebane released a report on Friday which found that Cyril Ramaphosa's campaign for the ANC presidency received donations totalling hundreds of millions of Rands.

Mkhwebane says there may also be "merit" to suggestions that the campaign "laundered" some of these funds.

Ramaphosa's campaign managers were in charge of handling these donations, which were funnelled into several trust accounts, as well as a campaign account and a private company.

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According to News24, the Public Protector's report showed that just over R440 million in total was donated to Ramaphosa's campaign. 

This money was channelled through a complex web of accounts, which include the EFG2 trust account owned by law firm Edelstein Faber Grobbler, as well as the CR17 campaign account and the Cyril Ramaphosa Foundation trust account, Briefly.co.za has gathered.

"I wish to express my preliminary view that such a scenario […] creates a situation of the risk of some sort of state capture by those donating these moneys to the campaign," Mkhwebane wrote in the report.

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However, Ramaphosa claims that no individual benefited from donations made to his campaign. He also says that he donated R6 million of his own money to the election effort, as well as a loan of R31 million. The president claims he has only been repaid R21.5 million of this loan. 

Additionally, he says that the Cyril Ramaphosa Foundation earned the money it received from the campaign legitimately in return for services rendered.

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Source: Briefly.co.za

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