The Presidency on Tuesday confirmed that President Cyril Ramaphosa signed the Political Party Funding Bill into law.
This bill will provide the creation of a Multi-Party Democracy Fund which will be administered by the Independent Electoral Commission (IEC), thus distributing donations equitably among parties.
The bill allows for direct accountability and transparency when it comes to who funds political parties.
Executive Secretary at the Council for the Advancement of the South African Constitution (Casac) Lawson Naidoo says the bill is a good and long overdue move.
We now finally have legislation in place that regulates the private funding of political parties and provides for an element of transparency in that regard.— Lawson Naidoo, Executive Secretary Cosac
He adds that it is critical for political parties to have adequate resources in order to serve our democracy. The transparency in party funding is critically important to the long term health of the country's democracy.
He adds that any disadvantages of this bill outweigh the benefits it will have for our democracy.
Naidoo says where previously people didn't know where political funding came from, this bill will allow more information to be made public.
Listen below to the full interview: