Naspers give R1.5bn to COVID-19 fight – includes mega-money deal with China

South African multinational company Naspers revealed they would be committing to Mzansi’s fight against coronavirus on Monday night, by becoming the fourth major entity to commit more than R1 billion to COVID-19 relief funds. Their efforts also enlist help from the government of China.

How much money Naspers will donate to COVID-19 relief efforts

Three of South Africa’s richest men – Nicky Oppenheimer, Johann Rupert and Patrice Motsepe – have all donated R1 billion to the cause, despite encountering their own financial turmoil this month. But Naspers – who are chaired by another ultra-wealthy citizen in Koos Bekker – actually one-upped these other members of the “dollar-billionaire” club, by giving R1.5 billion to SA’s relief efforts.

President #Ramaphosa: In addition to the financial pledges announced last week we welcome the commitment by the @MotsepeFoundtn of R1 billion and by @Naspers of R1.5 billion to the #coronavirus response.

— Presidency | South Africa (@PresidencyZA) March 30, 2020

So, how will Naspers’ generous donation be spent?

• The group will contribute R500m to the Solidarity Response Fund announced by Cyril Ramaphosa last week.
• Naspers will also buy R1bn worth of personal protective equipment and other medical supplies from China.
• They are working in partnership with the Chinese government and Tencent, with the intention to support South Africa’s health workers. Their total donations are worth about $83 million (USD).

Working with China to protect South Africa

The group released a statement on Monday night, shortly after Ramaphosa confirmed that the government had received financial help from Naspers. According to the company, they’re ready to take “dramatic action”.

“By working with government and civil society we want to help our country overcome this very difficult period. We hope this combination of support will help to make a difference in South Africa’s response to coronavirus.”

“We realise these are tough times that require dramatic action and Naspers is contributing to the measures underway in South Africa. We want to thank the government of China and our partner Tencent for their solidarity. More details will be released as soon as we have them.”

Naspers’ statement on coronavirus aid