PRESS RELEASE Public Private Partnerships raise R1,35 billion to support government efforts in vaccinating uninsured workers 26 May 2021: The Compensation Fund, in partnership with mutual assurance companies Rand Mutual Assurance Company Limited (RMA) and The Federated Employers Mutual Assurance Company (RF) (Pty) Ltd (FEM), have partnered to raise R1,35 billion to support government’s efforts to fund vaccines for workers who do not have medical aid cover. The entities will also contribute towards the costs of those receiving a pension who qualify for the Covid-19 vaccination in terms of the Compensation for Occupational Injuries and Diseases Act. The funding is anticipated to contribute towards the vaccinations of an estimated three million workers and pensioners who are uninsured. This collaboration will help the government procure vaccines to inoculate South Africa’s adult population in order to reach the 67% herd immunity target. The costs of procuring enough vaccines to inoculate at least two-thirds of the population to achieve herd immunity remains a concern. Earlier in the year, the National Department of Health indicated to Parliament that the Johnson & Johnson vaccine would cost US$10, or about R147 per dose. The initiative by the Compensation Fund, RMA and FEM forms part of the ongoing collaboration between the public and private sectors to plug the financial gap in the vaccine rollout programme. Commenting on the initiative, the Compensation Fund Commissioner Vuyo Mafata says, “This collaboration with the RMA and FEM to raise funds to vaccinate uninsured workers and pensioners demonstrates a meeting of minds between the public and private sector. This marks an important turning point in the fight against the Covid-19 pandemic. Our view is that if we can have more parties on board to support in a similar vein, we can help government in bridging some of the funding gaps in the procurement of vaccines. If we work together, we can all play a significant role in providing a muchneeded safety net for millions of vulnerable workers and pensioners who do not have the means to fund their vaccinations or afford private healthcare cover. Our aim is to provide support in efforts to ensure that as many people as possible are vaccinated for the country to meet the 67% herd immunity target.” Mafata acknowledged that while some challenges remain within the Compensation Fund, these are being highly prioritised for resolution. Mandla Shezi, CEO of RMA, adds, “Through this collaboration, we want to provide support in efforts to shoulder the financial burden of the costs of the vaccines and enable access to healthcare to make
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