ANC, Ezulweni Investments reach another out-of-court settlement over R85m debt

The African National Congress (ANC) has withdrawn its application seeking to unfreeze its bank accounts that were attached over its R85-million debt to Ezulweni Investments.

The two parties have reached yet another out-of-court settlement.

The ANC owes the marketing company for the printing of election posters and other materials ahead of the 2019 general elections.

Earlier this month, Ezulweni Investments was granted an attachment order on the party’s bank accounts, in addition to the court sheriff seizing the ANC’s goods and furniture at its Luthuli House to repay the debt.

The attorney for Ezulweni Investments, Shafique Sarley, told Eyewitness News that the settlement agreement between the company and the AN is confidential.

This is the second out-of-courtagreement between the two parties, following the debt settlement agreement in 2023.

Part of the debt agreement was the ANC giving Ezulweni Investments extra work for last year’s general elections.

However, the ANC defaulted on its payments leading to Ezulweni Investments, taking the step of attaching its movable assets and bank accounts.

The ANC filed an application to overturn the freezing of its accounts, saying the freezing of its accounts posed an existential crisis for it as it could not pay its employees from across the country.