S.African billionaire Motsepe donates $57 mln to fight coronavirusReuters | Johannesburg | Updated: 28-03-2020 17:11 IST | Created: 28-03-2020 16:40 IST
South African billionaire businessman Patrice Motsepe said on Saturday his group of companies would donate 1 billion rands ($57 million) to help fight the coronavirus outbreak that has forced the country into total lockdown as infections climb. South Africa entered a 21-day lockdown on Friday with people restricted to their homes and most businesses shuttered.
The country has reported 1,170 cases of coronavirus and now faces a near-certain deep recession. 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 rands for industrial firms, and comes a day after the country lost its last investment-grade credit rating. ($1 = 17.6250 rand)