The ANC and trustees of Brett Kebble's estate have reached an out-of-court settlement about a donation the mining magnate made to the party before his death.
ANC treasurer Matthews Phosa said the party would repay the R250,000 rand Kebble had donated to it in 2004, without admitting liability.
City Press reported on Sunday that the trustees argued in court papers that because no value was received in return for the money, it could be reclaimed.
However, the ANC said Kebble obtained the benefit of access to political decision makers and lawmakers.
Kebble was shot dead in September 2005.