Newly established Solidarity Fund bags R500m in a week
Written by YFM News on 30th Mar 2020
The Solidarity Fund which was set up by President Cyril Ramaphosa has secured over R500 million since its launch a week ago.
During President Cyril Ramaphosa’s announcement of a nationwide 21 days lockdown, he revealed that a Solidarity Fund had been established which South African businesses, organisations and individuals can contribute to.
The fund which was launch with R150 million seed capital donated by government will focus on efforts to combat the spread of Covid-19 and care for those who are ill and support those whose lives are disrupted.
During a virtual press briefing on Monday , the Solidarity Fund’s Nicola Galombik revealed that R100 million will be allocated to health workers.
“As the Solidarity Fund we have arranged an immediate working capital facility of a R100 million to enable the urgent purchase of critically needed personal protective equipment to protect health workers. They are the people who are at the frontline of the covid-19 pandemic,” said Galombik.
Galombik added that at least five thousand masks will be procured to assist health workers in the fight against Covid-19.
“It is expected that all the personal protective equipment purchased will be used to supply the health care system and support community level health workers. The first R52 million will be used to fund immediate purchase of a large order of about five thousand masks and other protective equipment,” Galombik added.
The fund has also clarified that the 1 billion each donated by the Oppenheimer, Rupert and Motsepe families will not be administered by it but the families themselves. To date the Coronavirus has infected 1280 people in South Africa with two fatalities recorded.