Wednesday, March 11, 2009

Standard Bank to donate R5m to political parties

James Myburgh
11 March 2009

JOHANNESBURG - Standard Bank has announced that it will be donating R5 million to political parties during the 2009 election year. The allocation will be done according to the formula and timetable the Independent Electoral Commission uses to distribute government funds to political parties represented in the legislatures. It is in line with a pre-existing policy adopted at board level in 2005. Since the Congress of the People is not yet represented in parliament, they will be excluded from receiving such funding until after the elections on April 22. Standard Bank said in a statement:

"In line with the Standard Bank's policy on the funding of political parties in support of the democratic process, the bank will be donating R5 million during the 2009 election year....The distribution of these funds is based on the Independent Electoral Commission's (IEC) existing funding formula, in terms of which funding is distributed to political parties in proportion to their representation in the National Assembly.".....

My comment:


Bankers and Politicians rule the world. Look at the USA where the end game is unfolding on how Bankers pocketed the soul (if any) of Politicians. This is a slippery slope and to know where this ends I refer to the article on Bankers and Politicians; "How Wall Street and Washington betrayed America"

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