The JSE’s Board of Directors and the Group Chief Executive Officer have pledged as much as 30% of their earnings to the Solidarity Fund for the next three months.
Members of the JSE Executive will also be making contributions.
The JSE pledge was announced as the bourse completed the second day of its two-day #Trade4Soldarity campaign.
The fundraising will include all fees earned from trades across all asset classes by the JSE and market participants on Wednesday 15 April and Thursday 16 April.
The fundraising effort was launched in response to President Cyril Ramaphosa’s appeal to the country for donations to the Solidarity Fund.
The Solidarity Fund is a special vehicle set up to help government and civil society fund South Africa’s response to the COVID-19 pandemic and to prevent further transmission and support those affected by it.
“The response by our capital markets participants to work together to support us in this venture at this critical time in our history is yet another example of the spirit of nationhood and generosity that exists in this country,” said JSE Board Chairman Nonkululeko Nyembezi.
“This pandemic has further highlighted the stark inequalities and deep levels of poverty in our society,”
In the spirit of the recent call by the Steering Committee of the CEO Initiative, Nyembezi urged Directors and Executives in other listed companies who are in a position to contribute, to heed the president’s call to support the Solidarity Fund.
“I am proud of my Board members and executive leaders for their support. This is truly a “Thuma Mina” moment,” said Nyembezi.
“We will need to draw deep on both the generosity of those who can afford to give what they can and the profound patriotism that binds us all as South Africans if we are to first overcome the existential threat of COVID-19 and then successfully rebuild our nation and its economy.”