South African billionaire Motsepe donates N20.8billion to fight Coronavirus

South African billionaire Motsepe donates N20.8billion to fight Coronavirus

South African billionaire businessman Patrice Motsepe has donated a sum of 1billion Rand (N20.8billion) to help in the fight against coronavirus.

South Africa entered a 21-day lockdown on Friday with people restricted to their homes and most businesses closed as the infections climb.



South African billionaire Motsepe donates N20.8billion to fight Coronavirus

The country has reported 1,170 cases of coronavirus and now faces a near certain deep recession, bare weeks after announcing negative growth.

Motsepe, President Cyril Ramaphosa’s brother-in-law and head of investment firm African Rainbow Capital, said at a media conference the money would be channeled through the government to build water, health and education facilities.

The pledge follows a 1 billion rand donation each by the Oppenheimer and Rupert families and a government package of more than 3 billion rand for industrial firms, and comes a day after the country lost its last investment-grade credit rating, Reuters writes.

Author: Sanya Agunbiade

Source: https://lailasnews.com/south-african-billionaire-motsepe-donates-n20-8billion-to-fight-coronavirus/


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