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Ncube establishes Covid19 crowdfunding

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By Alois Vinga   


FINANCE Minister, Mthuli Ncube has established a Coronavirus crowdfunding scheme to beef up resources for national use.

The scheme, code named COVID19 National Disaster Fund was launched Wednesday against fears that the pandemic may not end anytime soon.

The funds will supplement the resources which government has since set aside to fight the pandemic.

“I therefore wish to call upon and implore all stakeholders that have the capacity and wish to assist in any way to come forward with their contributions to the efforts to combat the Covid19 pandemic,” Ncube said.

Under the fund several accounts have been opened and donations are also being accepted.

“With respect to donations in kind, these should be received by the targeted ministries subject to Treasury concurrence as per applicable procedure,” said Ncube.

Last week, the Treasury boss announced a raft of measures which include the setting aside of a $600 million fund to cover one million vulnerable households under a cash transfer programme for the next three months.

He said the Social Welfare Department will use its structures to identify the beneficiaries under the facility.

Treasury has also provided $500 million to fight Covid-19 and is ready to attend to more requests.

Another $50 million has been availed to Premier Service Medical Aid Society to prepare for Covid-19 and to cater for the health requirements of civil servants.

Additional resources will be provided when required, while productive sectors of the economy will get some tax incentives to reduce the impact of Covid-19 on their operations in particular, and the economy in general.