Solidarity Fund to shut down in September - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The Solidarity Fund will no longer be taking requests for funding as it prepares to close by September.

The business entities of the fund which has completed its disbursements will continue to exist in a state of dormancy, while a minimum balance of R15-million will be left in the fund for remobilisation in the event of another crisis.Since its establishment, the fund has raised nearly R3.8 billion and disbursed R3.3-billion in COVID-19 relief funding.

The fund’s CEO Thandi Nzimande says, “The interventions that the Solidarity Fund team and our partners are either concluded or nearing conclusion and there will be no fundraising in anticipation of the fund’s closure as mentioned. While the decision has been made and this chapter of the fund is coming to an end, in the future, should the country face an all encompassing calamity similar to what we have witnessed in the last two years, the Solidarity Fund will be capacitated to remobilise.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Melinda French Gates and MacKenzie Scott Among Backers of $1 Billion Gender FundMelinda French Gates and MacKenzie Scott are among philanthropists donating money to the Gender Fund, which seeks to raise $1 billion to advance equality and women’s leadership in Africa, Asia and Latin America.
Source: dailymaverick - 🏆 3. / 84 Read more »