Naspers commits R1.5bn to fight against coronavirus

Naspers has committed R1.5 billion in emergency funding to
aid the government’s response to the coronavirus outbreak, the group said in a
statement on Monday.

It will contribute R500 million to the Solidarity Response Fund,
an independent relief fund announced by President Cyril Ramaphosa last week to
mitigate the impact of the pandemic.

Government seeded it with initial funding
of R150 million.

In addition to the R500 million, Naspers will buy R1 billion
worth of personal protective equipment (PPE) and other medical supplies in
China, in partnership with the Chinese government and Tencent.

This will be flown out to South Africa as soon as possible,
the statement said.

“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 Covid-19,” said South Africa CEO Phuthi Mahanyele-Dabengwa.

Group CEO Bob van Dijk added that the coronavirus pandemic
required “dramatic action” and that Naspers was contributing to the
measures already underway in South Africa. Additionally, he thanked the
government of China and Tencent.

* Compiled by Marelise van der Merwe. Fin24 is part of
Media24, a subsidiary of Naspers.