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Real Economy News in Real Time
R/€ = 19.78 Change: -0.03
R/$ = 18.11 Change: 0.08
Au 1678.96 $/oz Change: 28.66
Pt 738.30 $/oz Change: -3.02
 
 
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Solidarity Fund launched to assist in Covid-19 fight

26th March 2020 BY: Tasneem Bulbulia
Creamer Media Reporter

President Cyril Ramaphosa on March 23 announced the creation of a Solidarity Fund, designated to unite the nation and accelerate the country’s response to Covid-19.

The focus of the fund is to alleviate the suffering and distress caused by the virus on the country, and will mobilise the support of business and civil society in support of government’s efforts in responses to the virus.

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Government has made an initial R150-million available as seed funding and a number of businesses will be contributing within the next few days.

The fund, headed by chairperson Gloria Serobe and vice-chairperson Adrian Enthoven, will be independently administered and transparently governed through an independent board to ensure that it is effectively and efficiently used to combat Covid-19.

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It will be a rapid response vehicle through which contributions from citizens, committees, business and international donors can be pooled together to primarily fund four key initiatives, namely, prevent, detect, care and support.

Organised business is assisting with the initial formation of the fund, and thereafter, the board which is being appointed will take full responsibility for the fund and its activities. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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