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JSE to donate two days’ worth of trading revenue to Solidarity Fund

15th April 2020

By: Marleny Arnoldi

Online News Editor

     

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The JSE has heeded the call by President Cyril Ramaphosa to contribute towards the country’s Solidarity Fund, in the wake of the Covid-19 pandemic.

The stock exchange will donate the revenue it earns from trading on April 15 and 16 to the national Solidarity Fund, and has dubbed the initiative #Trade4Solidarity.

“The spirit of Ubuntu, that profound African sense that we are human only through the humanity of other humans beings, is not a parochial phenomenon, but has added globally to our common search for a better world,” the JSE cites, quoting late President Nelson Mandela.

The Solidarity Fund was created on March 23 by Ramaphosa to gather funds in the fight against the Covid-19 crisis. The fund is a rapid response vehicle designed to fund impactful initiatives that will augment the national health response contributions to national humanitarian efforts.

The JSE has encouraged market participants to join it by contributing a portion or percentage of their trading revenues to the fund. 

JSE capital markets director Valdene Reddy says he has seen companies pivot to making hand sanitisers and face masks; individuals, corporates and consortiums making meaningful contributions where required; and now the #Trade4Solidarity initiative allows the JSE to make its own contribution to what is the greatest public health crisis the world has witnessed in recent history.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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