MTN Group unveils $13.5m Covid 19 relief fund
The fund was drawn from donations from the MTN Group board of directors and senior executives
Pan African telco, MTN Group, has set up a $13.5 million (250 million rand) relief fund, to assist customers affected by the global Covid 19 pandemic.
MTN Group operates across 21 markets in Africa and is making the fund available in its home market of South Africa as well as in many other markets facing enormous challenges managing the pandemic.
The initiative comprises of five key focuses: MTN Group employees, customers, vulnerable groups, contributions to the South African Government’s Solidarity Fund and participating in industry interventions.
“We believe it is the responsibility of all organisations to assist where they can during the pandemic. MTN plays a vital role in the mobile and telecommunications industry across Africa and the Middle East and it is vital that we assist our employees, customers and stakeholders during this difficult time,” said Mcebisi Jonas, chairman of MTN Group. Believing that charity “begins at home”, the Group plans to raise R40 million for the MTN Global Staff Emergency Fund for employees in need.
The funds will be raised by contributions from the Group’s directors, managers and general staff. The Chairman, Group CEO, Group CFO and a number of MTN Group directors have pledged 30 per cent of their board fees and salaries for the next three months. The executive teams of both MTN Group and MTN South Africa have also contributed to the fund. In addition, other staff members can also contribute by making salary sacrifices.
The telco is also contributing, over $8 million (150 million rand) to the Y’ello Hope Package for customers, which includes free SMS services, the waiving of fees for certain mobile money transactions, discounted calling during off-peak periods, zero-rating of certain health, social services and educational sites and payment concessions to our business customers.
“Utilising our services and technologies for the greater good is key at the moment. We can positively impact millions of lives and our main focus is on keeping our network in good working order and enable our customers to connect with their loved ones during this most difficult time for all,” said Rob Shuter, MTN Group president and CEO.