Covid 19: What you need to know about the Solidarity Fund
- President Cyril Ramaphosa announced his entire cabinet will donate a third of their monthly salaries over the next three months to the country’s Solidarity fund.
- The fund was established as a public-private partnership three weeks ago to slow the spread of Covid-19, and assist the country’s economic recovery.
- Ramaphosa said the fund has already grown to R2.2 billion in three weeks, and has already allocated R1 billion to hygiene initiatives.
- Ramaphosa’s cabinet donation means that the fund will receive an additional R2 million for the next three months.
- For more stories, go to Business Insider SA.
President Cyril Rampahosa announced that his entire cabinet, including deputy ministers, will donate a third of their monthly salaries for the next three months to the Solidarity fund.
The fund was established roughly three weeks ago as a way for individuals and organisations to support measures to slow the spread of Covid-19, and assist in the economic recovery.
The government seeded the fund with a R150 million donation, but on Thursday Ramaphosa said the fund has already grown to over R2.2 billion.
He said it has already allocated around R1 billion to buy sterile gloves, face shields, surgical masks, test kits and ventilators.
The fund is managed independently from the South African government, and all donations to the fund are tax-deductible.
Here are the donation details for South Africa's Covid-19 Solidarity Response Fund:
- Bank: Standard Bank
- Branch name: Sandton City
- Branch code: 051001
- Account name: Solidarity Fund
- Account number: 023070021
- Account type: Current account
The monthly donations from Ramaphosa, his deputy president, his 28 ministers and 34 deputy ministers mean the fund will receive an additional R3 million for the next three months.
The individual monthly contribution to the fund from each member of Ramaphosa's cabinet members will be:
- President (annual salary: R2,987,154) - R82,146.74
- Deputy President (annual salary: R2,825,470) - R77,700.43
- Minister (annual salary: R2,401,633) - R66,044.91
- Deputy minister (annual salary: R1,977,795) - R54,389.36
The solidarity fund operates a call centre for donors, between 08:00 and 18:00, on 0860 001 001 and can be emailed on email@example.com.
(Compiled by James de Villiers)
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