FirstRand's Chief Executive, Chief Operating Officer and Chief Financial Officer will forego 30 percent of their salaries for three months.
Photo: File
FirstRand's Chief Executive, Chief Operating Officer and Chief Financial Officer will forego 30 percent of their salaries for three months. Photo: File

FirstRand's leadership team to forego 30% of April, May and June salaries

By Dhivana Rajgopaul Time of article published Apr 13, 2020

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DURBAN - FirstRand Limited has announced that the group’s Chief Executive, Chief Operating Officer and Chief Financial Officer, and the Chief Executives of its largest businesses, FNB, RMB and WesBank, will forego 30 percent of their salaries for three months.

FirstRand Chief Executive, Alan Pullinger, said that the group wanted to demonstrate unity with the President Cyril Ramaphosa and his ministers, who on Thursday night made the same pledge.

The proceeds will be directed to FirstRand’s SPIRE fund, which, together with the Solidarity Response Fund and other industry initiatives, is focused on accelerating South Africa’s Covid-19 critical care capacity, including the provision of protective equipment to healthcare workers.

FNB has also committed to helping small businesses with alternative funding support, critical business support resources, links to various government resources and private funding initiatives.

Given the various relief interventions needed by small businesses across different sectors, FNB has launched a portal under the “Covid-19 – For My Business” menu on the FNB App or Online Banking, where SME customers in need of help can register their requests for assistance. This will enable the bank to obtain information and present potentially relevant relief solutions.

The first phase of alternative funding that is available to SME customers via the portal is from the South African Future Trust (SAFT) 

FNB SMEs can register their interest to apply for the South African Future Trust (SAFT) funding by completing the SME assessment found under the “Covid-19 – For My Business” menu on the FNB App or FNB Online Banking. 

BUSINESS REPORT ONLINE

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