ANC ‘reportedly’ facing bankruptcy

South Africa’s ruling party, the African National Congress, is reported to be in financial turmoil, driving its leaders to pledge to legislatively boost the financing of political parties.

South Africa’s oldest egalitarian left-wing political entity has not been paying salaries to some of its workers due to lack of funding after the 2014 general elections.

The shortfalls were caused by the tight competition with the nation’s main opposition force, the Democratic Alliance, in the most recent elections.

Sources within the ANC say the party is planning to down size its staff by half in an attempt to reduce spending.

ANC Secretary General, Gwede Mantashe said the party’s finances were cut after it had lost 16 seats in Parliament in the general elections in May.

The ANC also lost 16 seats in the regional Parliaments, despite it gaining 3 seats in three Provinces.

The party’s personnel is already aware of the management’s plan to cut expenses and some employees have expressed their dissatisfaction with the situation, as unemployment in the nation is reported at 25 point 4 percent in the third quarter of this year.

RIANOVOSTI