ANC REACHES OUT-OF-COURT SETTLEMENT WITH EZULWENI INVESTMENTS OVER DEBT DISPUTE

In a statement released by the governing party on Friday, the ANC said the matter had been resolved in the best interest of both parties.

Luthuli House, ANC's headquarters in Johannesburg. Picture: Sethembiso Zulu/Eyewitness News.

Luthuli House, ANC's headquarters in Johannesburg. Picture: Sethembiso Zulu/Eyewitness News.

African National Congress (ANC) Ezulweni Investments

Bernadette Wicks | 22 December 2023 13:24

JOHANNESBURG - The African National Congress (ANC) said it has reached an out-of-court settlement with Ezulweni Investments regarding a controversial 2019 marketing material contract.

Ezulweni and the ANC have been locked in a legal battle over the R150 million the events company said it’s owed for the election banners provided for the 2019 elections.

With three judgments against the ANC so far, the company recently demanded that the money at least be placed in a trust account until the matter was finalised, threatening to bring liquidation proceedings otherwise.

In a statement released by the governing party on Friday, the ANC said the matter had been resolved in the best interest of both parties.