Despite the standoff between the ANC Youth League and Nedbank, the league’s financial report reveals that it continues to do business with the bank.
The confidential report, which was presented at the league’s national general council last week, shows that the league has at least one account with Nedbank and one with First National Bank.
The signatories to these accounts are Julius Malema, the league’s president, Vuyiswa Tulelo, its secretary general, and Pule Mabe, the treasurer general.
Nedbank and the league had a standoff last year over the bank’s withdrawal of its sponsorship for athletics because of mismanagement at Athletics South Africa (ASA).
Leonard Chuene, the ASA chairperson, is a close ally of the league, which threatened to launch a boycott of the bank.
But Mabe suggests in his report that new “low-interest financial institutions” must be considered because of the “heavy bank charges” levied by the larger banks.
The report also reveals that in 2008 the Youth League spent an undisclosed amount on programmes to “support the president of the ANC [Jacob Zuma]”.
The report also discloses that the league plans to establish a body similar to the ANC’s Progressive Business Forum (PBF), through which business people can hobnob with high-ranking government officials for a fee payable to the party.
The organisation told council delegates in the report that it is struggling to raise funds in the traditional way and is, therefore, looking at new methods of swelling its bank balance.
“[We] need to establish a subscription-based fundraising body similar to the ANC Progressive Business Forum under the auspices of Friends of the Youth League, which will assist in mobilising resources and a strong networking base for our organisation.
“This would also serve as an information sharing platform,” says the report.
The league complains that because of the recession, business is not eager to part with its money.
“The economic recession initially impacted negatively on our fundraising efforts, as there was unwillingness on the part of patriotic business to commit monies towards donations.
“Most of our donors preferred to pay our suppliers directly. This undertaking brought some relief to the debt bill of the organisation,” says the report.
Business-to-business fundraising, carried out at dinner sessions, breakfasts and roundtables hosted by the league for potential donors, brought in “over R7-million”.
The report thanks Malema for “making time to participate in most business-to-business fundraising initiatives”.
However, the report says, fundraising dinners are becoming less successful “as most potential funders make pledges and never get to action the payments”.
“At times the costs of putting up such fundraising dinners can far exceed the overall collections.
“During the period under review we managed to organise one successful fundraising gala dinner, which coincided with our 65th anniversary celebrations. We collected just over R1,2-million in pledges and direct payments.”
The league was involved in donations totalling R550 000 to three South African international medal winners: Caster Semenya, Khotso Mokoena and Mbulaeni Mulaudzi. Half of this came from the league’s coffers, the rest was donated by business people.
Mabe declined to discuss the financial report, saying it was confidential. But he said the league’s unhappiness with Nedbank had been “discussed and resolved”.