Solidarity Response Fund: Offer your helping
Never before in the history of our democracy has our country been confronted by such a severe threat to our health and future; however, it is a threat that we will be able to overcome if we work together. Across our country, people and organisations have offered to help and the Solidarity Fund is the vehicle that has been set up to facilitate this.— Cyril Ramaphosa - President of South Africa
On the 26th of March, President Ramaphosa declared a state of emergency and the Republic of South Africa was effectively in lock-down. An emergency protocol set up to slow the impact of Covid-19 (Coronavirus) on South Africa's citizens. Essentially flattening the curve.
The new enemy required us all to unite and collectively heed the call to stay home and social distance while the government sought to find lasting and practical solutions. This proved to be a costly task.
In a televised address to the nation, the president announced the formation of the Solidarity Response fund that will aid in the combat of the Coronavirus.
This fund will focus on efforts to combat the spread of the virus. It will also aid in tracking the spread and, care for those who are ill. It will also support those whose lives are disrupted.
To get things moving, the Government provided seed capital of R150 million and the private sector pledged to support this fund with financial contributions in the coming period.
"We will be spending money to save lives and to support the economy,” said the President. Significantly, he also announced that he and his cabinet are taking a 33% pay cut for a period of three months, the proceeds of which will be donated to the Solidarity Fund.
Corporate South Africa put their money where their mouths were in heeding the call for contributions. One such maverick, Coronation Fund Managers joined the financial services fraternity and other South African corporates, electing to apportion 33% of their salaries to the Solidarity fund for a period of three months.
We believe that the Solidarity Fund is one of the most effective and high-impact channels through which both corporates and individuals can augment government’s efforts to deal with the Covid-19 epidemic. In addition to the corporate’s contribution, I was really encouraged by the level of support all my colleagues gave to the initiative.— Anton Pillay - Coronation CEO
The Fund works closely with government and business, but it is independent of both of them. It is responsible for and controls the funds donated and is accountable to them with Old Mutual administering the funds on a pro bono basis.
The Fund will make public all donations and payments from the Fund on a regular basis. They will be administered by Tshikululu Social Investments to ensure transparency, monitoring and impact measurement.
Click [here] to donate to the fund.