WHAT COM­PA­NIES ARE AL­READY DO­ING

Finweek English Edition - - Openers -

AN­GLOGOLD ASHANTI: “Our fi­nan­cial sup­port for po­lit­i­cal par­ties is not to ad­vance the com­pany’s im­me­di­ate, nar­row com­mer­cial in­ter­ests. In SA the com­pany will there­fore bud­get a sum each year – up to 10% of so­cial re­spon­si­bil­ity spend­ing – for dis­tri­bu­tion as do­na­tions to po­lit­i­cal par­ties.” STAN­DARD BANK: “With the view of an ac­tive and strong civil so­ci­ety be­ing crit­i­cal to a multi-party democ­racy, in 2004 the group de­parted from its ini­tial pol­icy not to make po­lit­i­cal do­na­tions. In 2004, R5m was do­nated to­wards the na­tional elec­tion.

“Half was given to po­lit­i­cal par­ties ac­cord­ing to rep­re­sen­ta­tion in Par­lia­ment. The re­main­ing 50% was dis­trib­uted ac­cord­ing to the same for­mula based on rep­re­sen­ta­tion post the elec­tion.

“The group re­cently agreed to pay out R10m over the next five years to par­ties ac­cord­ing to their rep­re­sen­ta­tion in Par­lia­ment.”

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