What does the cryptic crossword clue "Southern corporation holds party in this private space (7)" mean?

The definition is "private space". The wordplay uses a charade (building blocks). S (synonym="Southern") + ANC (synonym="African National Congress, political “party”") + TUM (synonym="”corporation” as in a paunch/belly; around ANC (African National Congress") = SANCTUM; definition: "private space" The answer is SANCTUM.

Southern corporation holds party in this private space (7)

Guardian Cryptic #29316 | 5 Across | 2024-02-27 flower

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