JSE-listed Long4Life's board of directors and executives will take pay cuts of 30% of their salaries and fees for three months in support of South Africa’s Solidarity Fund, the company says.
In President Cyril Ramaphosa’s speech on April 9, announcing an extension of the national lockdown, he also announced that he, together with Cabinet Ministers, would take a 30% pay cut for three months, and appealed to South African executives to make a similar gesture.
Long4Life has responded, with the pay cut to be for three months, beginning April.
In addition, Long4Life will donate R1-million to the Solidarity Fund to assist in slowing the spread of Covid-19 and aiding the country’s economic recovery.
Long4life has also contributed to the broader national effort by donating, through its subsidiaries, Inhle Beverages and Chill Beverages, about R2.5-million worth of bottled Long4Life water and Fitch and Leedes Cola to charities supporting homeless shelters, various charitable institutions and the South African National Defence Force.