'Thousands of ordinary South Africans have contributed to the Solidarity Fund'
Last week, President Cyril Ramaphosa launched the “Solidarity Fund”, seeded by a R150 million donation from the State, to support vulnerable South Africans and to contain the spread of Covid-19.
Since then, several prominent South Africans and organisations have made considerable donations to the Fund.
The privately managed fund allows individuals and companies to make tax-deductible contributions.
The Fund aims to support efforts to provide care for ill people.
It is administered by Old Mutual.
Auditing firm EY and law firm Edward Nathan Sonnenbergs (ENSafrica) have created a plan for determining how to spend the capital.
The Money Show’s Bruce Whitfield interviewed Dr Adrian Enthoven, Deputy Chairperson at the Solidarity Fund.
Whitfield asked him to explain all we need to know about this massive humanitarian and health effort.
We have commitments of R2 billion. A billion of that is from Mary Oppenheimer and R500 million is from Naspers… We also have thousands of commitments from ordinary South Africans…Dr Adrian Enthoven, Deputy Chairperson - Solidarity Fund
There’s a single national effort… it’s amazing to see!Dr Adrian Enthoven, Deputy Chairperson - Solidarity Fund
Every cent that’s been spent has been on the procurement of goods. We haven’t spent a single cent on administration, infrastructure or bank fees…Dr Adrian Enthoven, Deputy Chairperson - Solidarity Fund
We’re augmenting the Government’s health response… We move quickly; our first procurement took 24 hours… It’ an extremely tight group… figuring out what the highest priorities are…Dr Adrian Enthoven, Deputy Chairperson - Solidarity Fund
We’re about to launch a national campaign to inspire and mobilise… it’s to get citizens to contribute and to become part of this effort…Dr Adrian Enthoven, Deputy Chairperson - Solidarity Fund
There are several social crises that are exacerbated by this… a focus of the Fund.Dr Adrian Enthoven, Deputy Chairperson - Solidarity Fund
For more detail, listen to the interview in the audio below.