The executives of Vodacom, and financial services group, Absa will donate a third of their salary for the next three months to the Solidarity Fund – set up to support the fight against the Covid-19 pandemic.<\/p>\n
President Cyril Ramaphosa announced on Thursday last week that he, the deputy president, and members of cabinet, will all take a 33% pay cut over the next three months.<\/p>\n
The president said that this money would be donated to the established Solidarity Fund, and called on MPs, public officials and executives to do the same.<\/p>\n
Vodacom said in a statement on the weekend, that group chief executive officer, Shameel Joosub, heeded the call by the president, “and will donate a third of his salary for the next three months to the Solidarity Fund.<\/p>\n
Absa said its executives would also forego 33% of their monthly salaries for the next three months and donate these amounts to both the Solidarity Fund as well as the Group\u2019s Covid-19 community support programmes.<\/p>\n
These are the group chief executive, the deputy group chief executive, the finance director, the chief executive of Retail & Business Banking SA, and the chief executive of Corporate and Investment Banking.<\/p>\n
Earlier, FirstRand announced that the executives of its largest businesses would forego 30% of their salaries for three months.<\/p>\n
This includes the CEO, COO, and CFO of FirstRand, and CEOs of FNB, RMB and WesBank.<\/p>\n
FirstRand chief executive officer, Alan Pullinger, said that the group wanted to demonstrate unity with the president and his ministers, who on Thursday night made the same pledge.<\/p>\n
President Ramaphosa on Thursday evening extended the country’s lockdown by two weeks until the end of April. This as the number of confirmed Covid-19 coronavirus cases in South Africa climbed to 2,173 on Sunday.<\/p>\n
This is an increase of 145 new cases from Saturday, with the country reporting a total of 25 deaths, unchanged from before, while 80,805 tests have been conducted so far.<\/p>\n