New party sets its sight on options trading to raise funds

By LULU MAGINDE
CAMPAIGN funding is a vital function for any party or candidate intending to contest.
The Mapai Levites Party set itself apart in preparation for next year’s elections through its option trading stocks source of funding.
On the opening day of a political parties seminar hosted by the National Research Institute, in collaboration with the Registry of Political Parties and Integrity of Political Parties, Paul Kamakande, general secretary, public officer and options trader for the party, presented his party plan.
“To prepare and generate campaign finance, more money is needed as the party projected that next year’s general elections are going to be a very expensive monitoring intensive capital exercise,” Kamakande said.
From next month to May next year, it is projected that K10 million will be gained from options trading, to pay for the party’s 50 contesting candidates, meaning a projected K200,000 allocated per candidate.
For a party with no prior political experience in Government, Kamakande believes option trading is the best way to raise funds for intending candidates.
Throughout the year before the national elections, the party invites interested candidates to pay a K500 life membership fee, which is then gathered by the business arm of the party to invest into options trading through the American stock exchange.
In addition to this, K500 is collected from the ordinary members, on top of the life membership fee, so as to provide the K50,000 needed to meet the requirements of the American options exchange market to trade.
“By law, we are allowed to present a business arms, so through this arm of the party, funds are transferred to the American stock exchange to trade in the overseas market,” Kamakande said.
Based on historical data analysed, it has been proven that US$3 million (K10 million) can be generated in six months with an initial investment of K50,000 (US$15,000).
Since the party’s registration in 2007, they have endorsed a total of 33 candidates throughout the past three elections, with a single candidate yet to obtain a seat.
Through the option trades investment funds, ordinary members are also paid K100 per fortnight via mobile banking to alleviate poverty in remote areas, towns and cities as part of the party’s two policies implemented before the elections.
The first policy relates to party members securing national development grants from the Government and donor agencies to be implemented in the districts.