R2bn from Rupert and Oppenheimer families a ‘pledge, not a donation’

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The R1 billion each made available by the Rupert and Oppenheimer families to assist Small, Medium and Micro Enterprises (SMMEs) during the uncertain economic environment created by the Covid-19 coronavirus pandemic “was a pledge and not a donation”.

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This was the clarity given by Minister of Small Business Development Khumbudzo Ntshavheni on Tuesday.

When Ramaphosa announced a national lockdown last week, he also announced a combined R2 billion in donations from the family of Remgro billionaire Johann Rupert and De Beers billionaire Nicky Oppenheimer. Business Partners said in a statement released on Monday that small, medium and micro enterprises in South Africa could begin applying for assistance from its R1 billion fund to keep them afloat during the three-week national Covid-19 coronavirus lockdown.

“We will have distinct and separate financing programmes available for both sole proprietors and formalised SMEs to ensure widespread support. We expect to make an announcement regarding the criteria, repayment terms and how to apply for the finance this week,” said Bierman.

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🤣🤣🤣

So the president was just marketing?

Tell them to keep that pledge.

Oh and there’s a catch 😂😂😂

I'm out of this Pledge, Donations, Commitment.

Really now Minister MizKhu

These billions have many guises. From donation to loan to pledge. What's next...prank?

Kudala sinixelela nge Capitalism, ingxaki you don't listen. Bathi 'Capitalism: donated R2bn' 'Socialism : Sanitizers ' Ooookay🤣🤣🤣

Omama bama fruit bona?

How can you be shocked 🤔😑

These pledges or donations must made available under very strict conditions/control. I don’t trust these thieving officials won’t try their luck again by dipping their hands in the cookie jar.

If envelope was a person

Ai am am pledging 40 billion please celebrate me too

English ilume amper the whole country!!!

Jroxderealest There's definitely no free lunch

Can someone define what a 'pledge' is, ndonqena uku consulter a dictionary

It's a loan ...word pledge

If I'm not mistaken his excellent President CR said both families donated R1B each. I don't remember hearing a word suggesting pledge or loan. I wonder what court would claim who might have misled the President.

MMALOWEEE!

So if it's a Pledge...you guys have no control on it only u will be getting orders from them on how or where to use the money for...

it's fine guys anyone who criticises this must come with a better plan

A pledge and a donation is basiclly the same thing.

What are the conditions since its now a pledge & not a donation?

Ok then who is suing China if its not a donation. I see a US group Freedom Watch already is. Money better spent then in my view to sue China for the fallout of this pandemic. All aboard?

But there is not much difference between a donation and a pledge. The difference lies in their tax status. I would rather get a pledge as it is not tax-deductible

Eei🙌

*Loan

Money is never free. There is always a catch. Terms and conditions

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