Afriforum CEO Kallie Kriel attacks News24 after report about them investing millions with ANC financier

Afriforum CEO Kallie Kriel launched a scathing attack on News24, calling the outlet anti-Afriforum activists who masquerade as journalists.

This attack was in response to an article from News24, which linked Afriforum to a stockbroking firm owned by a well-known ANC financier.

“Afriforum, a staunch opponent of the ANC and BEE policies, invested R3 million through a stockbroking firm owned by a well-known ANC financier,” News24 said.

It reported that in 2013, “Afriforum gave R3 million to an investment manager who used Thebe Stockbroking’s platform to trade JSE-listed stocks”. This money grew to R4.8 million by 2023.

“Thebe Stockbroking, now called TSB Securities, was previously 100% owned by Thebe Investment Corporation,” it reported.

Thebe Investment Corporation was founded in 1992 as a pioneering black-owned company. The sole shareholder at the time was Batho Batho Trust, a community-based trust closely linked to the ANC.

The trust’s original trustees included Nelson Mandela, who served as chairman, Walter Sisulu, and Reverend Beyers Naude.

As a strong opponent to the ANC and black economic empowerment, this does not look good for Afriforum or its chief executive.

Kriel said that Afriforum was not aware that Thebe would make donations to the ANC. Had it known this, it would not have made this investment decision, he said.

“Afriforum did not invest in Thebe Stockbroking. Investment managers use Thebe and other platforms to invest in shares on the stock market,” he said.

“These other platforms are also compelled by the race-obsessed ANC-led government to implement BEE policies.”

“It is virtually impossible to invest in shares on the JSE without some exposure to BEE-compliant entities.”

Kriel said that Afriforum had decided in March 2023 to move its investments away from Thebe as part of a process to consolidate the organisation’s investment portfolio.

Kallie Kriel attacks News24

Kriel took aim at Media24, saying that its owner, Naspers, donated R8 million to the ANC. “News24 will not tell you this in the hit piece against Afriforum,” he said.

“News24 refused to answer Afriforum’s questions regarding its parent company’s donations of R8 million to the ANC between 2021 and 2025.”

Kriel said these questions were aimed at determining whether News24 considers it justifiable for its parent company to fund the ANC.

This funding, he argued, happened while numerous individuals in the ANC leadership have been implicated in corruption.

“News24, one of South Africa’s most influential news platforms, is expected to provide impartial coverage of all political entities, including the ANC.”

Kriel argued that this question was relevant to Afriforum’s ability to respond effectively to News24’s enquiries.

“This is because reference was made to donations by one of the parent company’s fellow donors to the ANC, namely Thebe Stockbroking,” he said.

“How can we trust the objectivity of a media outlet when its parent company is financially supporting one of the major political players?” Kriel asked.

“This isn’t just a potential conflict of interest. It’s a direct challenge to the integrity of the media as a neutral entity.”