The ANC Youth League (ANCYL) could not confirm a report on Sunday that it owed creditors R50 million, saying only that it owed “a lot of money”.
“Everybody has been quoting a figure, we are still verifying how much the ANCYL owes,” spokesman Bandile Masuku said.
“The figure could be less [than R50 million] or more.”
He was reacting to a report in the Sunday Times that the organisation was R50m in the red, and struggling to run its affairs efficiently.
Masuku said the league was still receiving requests for payments. The organisation was making a plan to pay its creditors.
“The organisation has been plagued by financial problems for some time now. Our task is to get all resources together and settle with creditors,” he said.
The amounts owed included R15m to the company University Events Management, for services rendered during the league’s 2008 national conference in Bloemfontein; and an undisclosed amount to Gallagher Estate, Midrand, for the 2011 national congress, according to the Sunday Times.
It also had a R270,000 legal bill, relating to the case of the league’s former spokesman Floyd Shivambu calling a journalist a drunkard. – Sapa