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Solidarity Fund to shut down in September

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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.

The Solidarity Fund was created in March 2020 in response to the COVID-19 pandemic in South Africa.

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. ”

The fund held its first quarterly update and stakeholder briefing for 2022 on Thursday.

More details in the video below: 

Source: SABC

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