Surgeons for Little Lives gets funding for breast-milk unit at Chris Hani Baragwanath
New facility will aid mothers and help save lives of newborn infants
Surgeons for Little Lives, a nonprofit organisation that improves the lives of children and babies in state-run hospitals, has received a funding boost from the Impilo Yesizwe (Health of the Nation) trust. The trust was established by Rand Merchant Bank (RMB) in October 2010 to participate in the MTN black economic empowerment (BEE) transaction. Along with the Imfundo Yesizwe (Education of the Nation) and Intuthuko Yesizwe (Development of the Nation) trusts, it entered into partnership agreements with RMB, which, as founding partner, funded the trusts on an arm’s-length basis to participate in the transaction. In November 2016, the MTN BEE transaction unwound. Each trust received about R5.2-million in net profit from the partnerships, to be distributed to public benefit organisations operating in health, education and social development. These donations fall outside RMB’s corporate social investment spend as a percentage of after-tax profits. Instead, RMB has applied its intellectua...
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