Solidarity Fund receives R2.6bn in pledges

President Cyril Ramaphosa set up of the public-private partnership to assist with efforts to combat the spread of coronavirus and help with the country’s economic recovery.

 

The fund's Paul Bondi says the organisation has seen an unprecedented response to the call by the president to stand together and drive a united fight against the Covid-19 pandemic.

 

Bondi says the fund that was launched a month ago, with only R150 000 of seed capital donated by the state, and it now stands on R2.6 billion.

 

"Of this amount, just about R1.6 billion has been received into the fund's bank account. Around a 1000 business contributed to the fund.

 

"We are grateful to more than 75 000 individuals who contributed amounts ranging from the lowest to R1000 000," says Bondi.

 

Bondi says it is important to clarify that the fund is not administrating all donations made by some high-profile families and foundations.

 

"They have set up their own relief efforts and are being administrated separately.”