The EFF will lead its electoral campaign with a bank loan


The Economic Freedom Fighters (EFF) will run their election campaign on credit, hoping to be able to repay the debt at a later stage.

This is what party leader Julius Malema revealed on Monday when he unveiled his billboard at OR Tambo airport a day after the launch of his electoral manifesto and new headquarters in Johannesburg.

Malema was asked by journalists how much the party was going to spend on the election campaign.

“It’s a few million, which we don’t have,” said Malema.

Although he did not reveal much about the party’s budget for the election, he said the party was in the process of applying for a bank loan to cover part of the costs.

READ ALSO: ANC denounces Mbalula’s “R50m” budget report as “sensational”

He said budget constraints aside, the party had strong ideas on how it would run a successful campaign.

“It’s a very ambitious plan, and it’s a very expensive plan, but we hope to get there.

“We don’t have the money, and we have ideas and the money shouldn’t stop us…) to have the money, but we know we can serve them.

“We are also applying for a loan from the bank so that we can run a successful campaign. “

Malema refused to give the loan amount requested by the party.

“It is not advisable to tell your enemies how much you have, because they will outsmart you. So, they just need to know that you are in the race.

He said everything would be done within the limits of the law.

“Everyone who contributes to the EFF, if they do… well, we will make statements.

“Several institutions have told us that we will donate to all parties on a proportional basis; we are still waiting and when this is done we will report to the CEI [Independent Electoral Commission]. “

Earlier this month, the IEC revealed that the ANC, DA and Action SA were the only parties in South Africa to make statements compliant with the Political Party Financing Act, with EFF not listed. not on the list.

READ ALSO: ‘Broken’ ANC Says Rand 10 Million As IEC Releases Party Donations Report

However, Malema defended his party and said at the time that there was nothing to report.

“There is nothing to declare; they are called gifts. The FEP survived thanks to parliamentary money, CIS money and party levies. Party dues are what our public representatives contribute each month and this is what keeps the EFF surviving, ”said Malema.

“There is nothing in the coffers of EFF that exceeds R100,000. We are going to be audited, and the auditor and the financial statements will be sent to the IEC for them to be satisfied, ”Malema explained.



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