CHANGES in the way political parties are financed, including tapping into the public purse and disclosure of their private funders, is likely to take up to three years to implement.
This means there is still a chance for these reforms to be in place in the next general elections to be held in 2014.
The ANC's discussion document on regulation of party funding - which is a subject of debate by delegates at the party's national policy conference - could have far-reaching implications.
It could see parties open their financial records for public scrutiny for the first time in the history of South Africa.
Among the contentious issues to be thrashed out in the conference, which ends tomorrow, is that of "party-linked investment vehicles".
The subject of political funding and party-linked investment vehicles, especially, is expected to be a controversial one for the ANC, which owns prominent investment arm Chancellor House Investments.
The investment holding company holds shares in Hitachi, which was one of the contractors tasked with building the multibillion rand coal power station in Mpumalanga.
Discussions around party funding takes place in the aftermath of admissions by the ANC that public funding of political parties was insufficient and that private funding contributed to factional battles playing themselves out within the party.
The ANC has also proposed not to forbid cadres from doing business with the state. But it would seek to prevent abuse by politically connected individuals.
Funding of parties in spotlight
CHANGES in the way political parties are financed, including tapping into the public purse and disclosure of their private funders, is likely to take up to three years to implement.
This means there is still a chance for these reforms to be in place in the next general elections to be held in 2014.
The ANC's discussion document on regulation of party funding - which is a subject of debate by delegates at the party's national policy conference - could have far-reaching implications.
It could see parties open their financial records for public scrutiny for the first time in the history of South Africa.
Among the contentious issues to be thrashed out in the conference, which ends tomorrow, is that of "party-linked investment vehicles".
The subject of political funding and party-linked investment vehicles, especially, is expected to be a controversial one for the ANC, which owns prominent investment arm Chancellor House Investments.
The investment holding company holds shares in Hitachi, which was one of the contractors tasked with building the multibillion rand coal power station in Mpumalanga.
Discussions around party funding takes place in the aftermath of admissions by the ANC that public funding of political parties was insufficient and that private funding contributed to factional battles playing themselves out within the party.
The ANC has also proposed not to forbid cadres from doing business with the state. But it would seek to prevent abuse by politically connected individuals.
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