ANC says Bosasa scandal will harm it financially

12:35 (GMT+2) Sat, 09 Feb 2019

The ANC's treasurer in the Eastern Cape, Babalo Madikizela says the Bosasa scandal emerging from the Zondo Commission of Inquiry into state capture, will harm the party financially.

Speaking at an ANC Eastern Cape fundraising dinner in Mthatha on Friday evening, he said running an organisation like the ANC was becoming more expensive, while revenue kept shrinking.

However, he welcomed the arrest of former Bosasa COO, Angelo Agrizzi and others allegedly involved in corruption this week.

Madikizela said the ANC required at least R550 million to run its campaign for the 2019 general elections, adding that the party had raised at least R13 million through its provincial fundraising gala dinner on Friday.

The event also attracted interest from business people in Limpopo, Mpumalanga, KwaZulu-Natal, and Gauteng.

Madikizela, who hosted the event, said the money raised was far beyond their expectations.