FNB Wealth and Investments on Wednesday announced that it would be donating all its trading revenues on April 15 and 16 to the Solidarity Fund to fight the Covid-19 pandemic. Photo: Dylan Jacobs/African News Agency (ANA)
FNB Wealth and Investments on Wednesday announced that it would be donating all its trading revenues on April 15 and 16 to the Solidarity Fund to fight the Covid-19 pandemic. Photo: Dylan Jacobs/African News Agency (ANA)

FNB Wealth and Investments donates trade revenues to the Solidarity Fund

By Sizwe Dlamini Time of article published Apr 15, 2020

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CAPE TOWN – FNB Wealth and Investments on Wednesday announced that it would be donating all its trading revenues on April 15 and 16 to the Solidarity Fund to fight the Covid-19 pandemic.

FNB said in a statement that this is in support of the Johannesburg Stock Exchange’s (JSE’s) initiative to donate all its trading, clearing and settlement revenues on April 15 and 16 to the Solidarity Fund.

FNB chief executive of Wealth and Investments Solutions Bheki Mkhize said the call for unity and solidarity by the President Cyril Ramaphosa against the Covid-19 pandemic had encouraged both businesses and communities to fight and pledge their support against this global pandemic.

“We believe that every little contribution will make a bigger impact to help our country and its people during this period,” he said.

The Solidarity Fund is an umbrella platform to enable all South Africans to contribute to the fight against Covid-19. 

It is an independently registered and governed public benefit company that acts as a rapid response vehicle in the fight against Covid-19 by mobilising and co-ordinating the resources and efforts of all South Africans to aid efforts to curb the spread of Covid-19.

The Solidarity Fund recorded inflows of R500 million one week after its launch and more than R2 billion from local and international donors in just two weeks of its launch.

The Forum of South Africa’s Directors-General (FOSAD) on Sunday pledged its support for support the call by the National Coronavirus Command Council for members of political leadership and executive layer of the public service, to make contributions to the Solidarity Fund.  

Ramaphosa welcomed FOSAD’s decision: "We welcome this patriotic contribution by FOSAD members, who voluntarily made this decision. Every effort made to alleviate the devastating consequences of the coronavirus pandemic, is highly appreciated.”

FOSAD called on all public servants in national and provincial departments, including those in public entities to donate to the fund in an effort to support South Africans whose lives had been disrupted by the pandemic and care for those in hospital or medical care.

BUSINESS REPORT

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