According to a list released by the Electoral Commission of South Africa, one man, Durban-born billionaire Martin Moshal, is the largest single funder of the country’s political parties ahead of 2024 General Election. He’s not only spending big on the Democratic Alliance (DA) but also Action SA and Build One South Africa (BOSA).
According to the latest available data, Martin Moshal accounts for one third of the total R437 million declared by the IEC. Of this, R35 million has gone to the DA, R20.5 million to ActionSA and R4 million to BOSA. So, who is this reclusive kingmaker in South African politics and what is his background?
WHO IS MARTIN MOSHAL?
According to the Australian Financial Review, Martin Moshal currently lives in Australia, on the exclusive Sydney Harbour row of Camp Cove. He doesn’t feature on any Most Wealthy list and his total fortune is a secret, but he has made his money from online casino gambling technology.
Martin Moshal is an exceedingly private individual, preferring to let his philanthropic work do his bidding for him. It only recently emerged that he’s a major shareholder in British online gambling giant Betway. This was after ownership was traced back to one of his offshore trusts.
WHAT IS HIS MOTIVATION?
So, what drives Martin Moshal in the political space? According to a SA Jewish Report (SAJR) interview from 2023, Martin Moshal says he believes South Africa needs change, otherwise it’s on its way to becoming a failed state.
“The government is corrupt, cannot provide basic security and opportunity to its citizens. Therefore, we need the change of leadership that these parties (DA, ActionSA and BOSA) can provide. At this moment in history, it’s important to provide support to all centre-left and centre-right parties. If they come together or work in some way as a team, they could provide solid leadership and government of the country,” Moshal said.
Moreover, Martin Moshal oversees Entrée Capital an Israeli-based venture capital fund. And it’s reported that he is beneficiary of a trust known as Super Group. This group reported net online casino gaming revenue of €1.3 billion (R31 billion) in 2022. Moshal studied Business Science at the University of Cape Town and patented a series of technological innovations for online gambling while living in Durban. He then developed them via his company Microgaming.
PERFECT IS THE ENEMY OF GOOD
Martin Moshal says in the SAJR interview that the political parties he’s supporting are not all perfect, but you can’t let ‘perfect be the enemy of good’. “They are all far better than the ANC government we have today. I don’t think people fully appreciate how big an impact donations can make in South Africa. The payoff will change the trajectory of millions of lives for the better, which I believe is an incredibly good bet,” concluded Moshal.
NEXT READ: LATEST on applying for South African smart ID card in 2024
Have you heard of Martin Moshal before? Do you hope his endowments will help South Africa in the 2024 General Election? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on X and The South African on Facebook for the latest updates.
CLICK HERE TO READ MORE ARTICLES FROM RAY LEATHERN
