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FirstRand Executives To Donate 30% Of Their Salaries To Solidarity Fund

Top executives at financial services company FirstRand on Saturday were the latest business leaders who committed to forgo 30% of their salaries for three months to contribute money to the government’s coronavirus (COVID-19) Solidarity Fund.

The campaign was started after government leaders, including President Cyril Ramaphosa, this week agreed to slash their salaries by 33% to contribute funds towards the fight against the COVID-19 pandemic.

With the economic impact of the pandemic guaranteed to bring government finances to its knees, the private sector in the country raised to the occasion to aid through various schemes including the Solidarity Fund.

The financing is targeted at enhancing healthcare facilities and supporting small businesses, among other functions.

FirstRand announced that its CEO Alan Pullinger, CFO Harry Kellan, and COO Mary Vilakazi would have their salaries reduced in line with the pledges by top government officials.

Pullinger described Ramaphosa’s plea for business to step up to the plate as meaningful.

“The president’s request is meaningful, and we believe he is right to ask business leadership to step up and make the same sacrifice, particularly given what is at stake for our country,” Pullinger said.

Other leaders who joined the pact included Nedbank CEO Mike Brown, Ekurhuleni Mayor Mzwandile Masina and his executive, leaders and members of Business Unity South Africa, and the Black Business Council.

For official information about COVID-19 from the Department of Health, please click here.