Sub-Sahara Africa non-bank financial services provider Sanlam Emerging Markets (SEM) has thrown its weight behind the fight against the spread of the Coronavirus in all the markets that mirrors its business footprint both in Africa and other international markets where it operates.
The firm headquartered in South Africa is part of the Sanlam Group and is represented in the East Africa region by Sanlam Kenya PLC, Sanlam Investments East Africa among other Sanlam businesses in Tanzania, Uganda and Rwanda is donating $2.3 million to support various initiatives to fight the pandemic in Africa and other territories where SEM has a business presence.
In Kenya, Sanlam Kenya, the Nairobi Securities Exchange (NSE) listed firm and Sanlam Investments East Africa has boosted the national COVID-19 resource mobilization fund to the tune of 8million shillings ($75,000)
In Africa, there are over 10,000 reported cases of Coronavirus infections in Africa, and over 500 COVID-19 related deaths reported.
The funds are aimed at assisting efforts in ‘flattening the curve’ and to support various initiatives to combat the spread and the impact of the virus and will be used for personal protective equipment (PPEs), contributions to national solidarity funds, food relief and assist schools with e-learning.
SEM CEO, Heinie Werth said each of the 32 countries in Africa as well as other markets Sanlam operates in will be allocated funds for use at the discretion of Sanlam subsidiaries and associate companies in those countries to support initiatives to fight the Coronavirus.
“We believe this effort will contribute not only towards the fight against the coronavirus, but also towards securing a sustainable future for all the communities where we do business across the continent. In addition, the country operations may contribute additional funds from their respective businesses to relief efforts,” he said in a statement issued in Nairobi on Thursday.
“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 Werth.
JK/abj/APA