Zimnat to receive COVID-19 support from SA shareholder

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FINANCIAL services firm, Zimnat will receive funds from a US$2,5 million donation from shareholder, Sanlam Emerging Markets (SEM), to support initiatives to fight the coronavirus.

— BY TATIRA ZWINOIRA

SEM is a subsidiary of the South African financial services firm, Sanlam, that owns stakes in financial services companies in 32 countries in Africa as well as other markets.

“The scale and impact of this pandemic on both Africa’s people and economies can be dire, but if we act in solidarity and collectively, we can contribute to the ongoing efforts to attenuate the impact of COVID-19,” said SEM CEO Heinie Werth in a statement yesterday.

“As a leading pan-African financial services company with a rich history of ‘doing well by doing good’ and good corporate citizenship, we are proactively taking responsibility to support the countries in which we operate to fight COVID-19. We believe that such an unprecedented time of uncertainty as we are now in calls for us to act in order to contain the impact of this scourge.”

NewsDay Business understands that the funds are aimed at assisting efforts in “flattening the curve”.

The funds will be used for personal protective equipment, contributions to national solidarity funds, food relief and assist schools with e-learning. Werth said the country operations may contribute additional funds from their respective businesses to relief efforts.