MTN bosses give up a third of their salaries as part of R250 million coronavirus relief plan
MTN’s top executives will donate a third of their salaries as part of the company’s R250 million relief package in response to the Covid-19 pandemic, the group said in a statement on Wednesday (15 April).
“We believe it is the responsibility of all organisations to assist where they can during the pandemic,” said Mcebisi Jonas, the chairman of MTN Group..
“MTN plays a vital role in the mobile and telecommunications industry across Africa and the Middle East and it is vital that we assist our employees, customers and stakeholders during this difficult time.”
Jonas said that group plans to raise R40 million for the MTN Global Staff Emergency Fund for employees in need.
The funds will be raised by contributions from the group’s directors, managers and general staff. The chairman, group CEO, group CFO and a number of MTN Group directors have pledged 30% of their board fees and salaries for the next three months.
The executive teams of both MTN Group and MTN South Africa have also contributed to the fund. In addition, other staff members can also contribute by making salary sacrifices, the group said.
MTN said that an additional R150 million will be invested in the Y’ello Hope Package for customers, including:
- Free SMS services;
- The waiving of fees for certain mobile money transactions;
- Discounted calling during off-peak periods;
- Zero-rating of certain health, social services and educational sites
- Payment concessions to business customers.
“Utilising our services and technologies for the greater good is key at the moment. We can positively impact millions of lives and our main focus is on keeping our network in good working order and enable our customers to connect with their loved ones during this most difficult time for all,” said Rob Shuter, MTN Group president and chief executive officer.
Shuter said that the MTN Group will also contribute R10 million to the South African Government’s Solidarity Fund and make contributions of more than R50 million through its MTN Foundations charity.
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