Rupert and Oppenheimer families contribute R2 billion to help SMMEs battered by Covid-19

Two of South Africa’s richest families, the Rupert and Oppenheimer’s have both pledged R1 billion each to the government to support efforts to ward off the deadly Covid-19 virus.

President Cyril Ramaphosa announced he had set up a Solidarity Fund where South African businesses, individuals and foreigners can contribute to.

Government has appointed businesswoman Gloria Serobe to chair the fund.

Ramaphosa said his administration has provided a seed capital of R150 million to the fund.

“In this regard, we must applaud the commitment made in this time of crisis by the Rupert and Oppenheimer families of R1 billion each to assist small businesses and their employees affected by the coronavirus pandemic,” Ramaphosa said.

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