ANCYL call for boycott of Capitec bank over Michiel Le Roux’s DA funding

The ANC Youth league has called upon South Africans to boycott Capitec bank over its funding of only the opposition DA.

Speaking to the Sunday World newspaper, ANCYL chairman, Collen Malatji, said the bank has mainly black clients,  but it funds the DA which is anti Black economic Empowerment.

The newspaper revealed that Capitec’s billionaire Founder, Michiel Le Roux, recently funded the DA with R15 million for its election campaign.

However,  Le Roux said the ANCYL is confusing the funding that he provides to the DA through his other personal companies with Capitec.

He revealed that he funds the DA through his companies, Fynbos Capital and Fynbos Ekweteit.

According to South African electoral laws, political parties are required to reveal the sources of their funding.

According to online sources, the top 10 political funders in South Africa are:

The BIGGEST political party funders in South Africa:

Michiel Le Roux- R50 370 000–100% to DA
Martin Moshal- R46,5 million- DA/ActionSA and One South Africa
Patrice Motsepe – R19 308 178–ANC/DA/EFF/IFP/FF+
Victoria Freudenheim- R18 587 504-100% to ActionSA
Mary Slack – R15 000 000- 100% to DA
Jessica Slack-Jell-
R6 133 333-DA/ ActionSA
Rebecca Oppenheimer-
R3 333 333-100% to ActionSA