CAPE TOWN- President Cyril Ramaphosa has announced the formation of an independent response fund - ' Solidarity Fund' - to care for those affected by the Covid-19 pandemic.
President Cyril Ramaphosa addressed the nation on Monday and announced that government will provide seed capital for the independent fund to the tune of R150 million.
He said in his discussions with the business sector, the Rupert and Oppenheimer families will provide R2 billion between them to assist small business.
Ramaphosa said that persons who wish to contribute to the fund will be able to from Tuesday and that the fund will be chaired by Gloria Serobe.
" We call on large businesses to take care of their workers in this testing period," said Ramaphosa.
For LIVE updates on the Coronavirus pandemic, follow us on Twitter : @sacoronamonitor