FirstRand establishes R100m Pandemic Intervention Relief Effort

DURBAN – JSE-listed financial services group FirstRand yesterday established a R100 million South African Pandemic Intervention and Relief Effort (Spire) fund to assist the government and its partners in mitigating the impact of the Covid-19 epidemic.

The group said Spire was funded by the FirstRand Foundations, FNB and RMB and was working closely with the Solidarity Response Fund and other industry and sector initiatives.

President Cyril Ramaphosa started the Solidarity Response Fund in response to the Covid-19 outbreak, so that individuals and organisations can support efforts through secure tax-deductible donations.

The group said Spire’s immediate objective was to accelerate the scaling of South Africa’s Covid-19 critical care capacity over the next few weeks and support the medical structures and resources of the country, particularly, those responsible for providing testing, front-line protective care, ventilators and addressing critical bed capacity.

FirstRand chief operating officer Mary Vilakazi said the initiative demonstrated the value that could be unlocked through partnerships between the government, foundations and the financial and operational capacity within the private sector.