News

Everything you need to know about the COVID-19 Solidarity Fund

Published by
Leslie Phiri

President Cyril Ramaphosa last month set up a Solidary Fund chaired by Ms. Gloria Serobe to fundraise for combating the novel Coronavirus that has seen over 2 million worldwide infections.

Advertisement

Solidarity Fund will be independently administered

The Solidarity Fund will be independently administered and will work with other initiatives to achieve these objectives.

In setting up the Fund, Ramaphosa said, “Following consultation with social partners, we have set up a Solidarity Fund, which South African businesses, organisations and individuals, and members of the international community, can contribute to.”

He added that the Fund will focus efforts to combat the spread of the virus, help the government to track the spread of the virus and take care of those who are ill. Most importantly, the fund will support those whose lives are disrupted.

Advertisement

According to the Solidarity fund website, through this fund, individuals and organisations will be able to support these efforts through secure, tax-deductible donations.

The Fund will operate with the highest principles of corporate governance and through an independent Board. All activities will be reported transparently with the Fund administration done through professional managers and organisations in the private sector.

The Government was the first to donate

From the time government provided seed capital of R150 million, the fund has received over R2.2 Billion rand at the time of the extension of the lockdown by Ramaphosa last week.

“I am pleased to report that the Solidarity Fund – which was established to mobilise resources from companies, organisations, and individuals to combat the coronavirus pandemic – has so far raised around R2.2 billion.
“It has already allocated around R1 billion to buy sterile gloves, face shields, surgical masks, test kits and ventilators,” said Ramaphosa

The Solidarity Fund is Primarily for vulnerable households

He added that the Solidarity fund will also allocate funds for humanitarian relief to vulnerable households, in addition to the R400 million set aside by the government for Social Relief of Distress grants.

All of these efforts, while necessary and commendable, will not be sufficient on their own to cushion the poor from the impact of this pandemic.
There is a need for all players to come on board and complement government efforts in fighting COVID 19.

Ministers will be donating a third of their salaries into the fund. A third of a minister’s salary will be in the region of R66 000 per month. Director Generals are also donating R30 000 into the fund.

Corporates, political parties and individuals in South Africa have also chipped in with substantial donations that will help cater even for the vulnerable communities during this lockdown.

How to donate

If you feel compelled to join many South Africans in the economic and social efforts to combat COVID19, below are the banking details to donate into.

Bank: Standard Bank
Branch Name: Sandton City
Branch code: 051001
Account name: Solidarity Fund
Account number: 023070021
Account type: Current account

For organisations wishing to make any offers of non-cash donations, kindly contact 0860 001 001 between 8 am and 6 pm South African time.
Alternately, you can download the donation form here and mail the completed form to info@solidarityfund.co.za, or complete the online donation form here.

A donor consultant will be in touch with you once we have processed your form. For any queries relating to non-cash donations, please contact us on 0860 001 001.

Advertisement

For any general information on the Solidarity Fund – info@solidarityfund.co.za

For individual donation queries – individual@solidarityfund.co.za
For corporate donation queries – corporate@solidarityfund.co.za
For foundation donation queries – foundation@solidarityfund.co.za
Telephone number – 0860 001 001

Everything you need to know about the COVID-19 Solidarity Fund
Share
Leslie Phiri

Leslie Phiri holds a Diploma in English Literature from the National University of Science and Technology and a Bachelor of Science in Journalism from the University of South Africa. At Rateweb he focuses on news and developing story in finance. He also hosts Rateweb's personal finance podcast. You can get hold of him at leslie@rateweb.co.za

Published by
Leslie Phiri
Advertisement
%%footer%%