The JSE’s board of directors and the group CEO have pledged at least 30% of their emoluments and salaries 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 campaign saw all the fees earned from trades across all asset classes by the JSE and market participants on Wednesday 15 April and Thursday 16 April, donated 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; to prevent its 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. This pandemic has further highlighted the stark inequalities and deep levels of poverty in our society,” says JSE board chairman Nonkululeko Nyembezi.
Nyembezi says JSE Board members and the group CEO had agreed to contribute at least 30% of their emoluments/salaries over the next three months, with all monies being donated to the Solidarity Fund.
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.