MTN Group has announced a R250 million relief fund to help fight the COVID-19 pandemic. MTN Chairman, Group CEO, CFO, a number of directors, managers, and the staff pledged 30% of their salaries for the next three months. They all contributed by making salary sacrifices.
“We believe it is the responsibility of all organizations 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,” says Mcebisi Jonas, the Chairman of MTN Group.
As a network provider across 21 markets, MTN plans to provide relief for employees, customers, vulnerable groups, solidarity, and industry interventions. Over R150 million will be invested in the Y’ello Hope Package for in free SMS services, waiving fees for mobile money transactions, and discounted call time during off-peak periods.
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It will also provide certain health, social and educational and other payment services to customers.
MTN Group is also mobilizing MTN Foundations across its business verticals to reach the most vulnerable through the contributions. It will provide $2.6 million to tackle health emergencies and to enable students to access educational content. MTN will also contribute $500,000 to South Africa’s Solidarity Fund.
“Utilizing 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.
Likewise, Vodacom and Absa bosses have decided to donate a third of their salaries to the government for the next three months.
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