Latest News Editor's Choice

Business / Companies

African Medallion Group comes to aid of Zim, SA in Corona virus fight

by Agencies
31 Mar 2020 at 09:35hrs | Views
African Medallion Group (AMG) has announced a financial aid package to the Zimbabwean and South African governments to the tune of R10 million in SA and $ 5million in Zimbabwe to assist the respective Governments in the ongoing fight against the Covid-19 virus which has been steadily spreading in the southern African countries.

The firm with bases in South African and Zimbabwe announced that they will start disbursing the financial aid through the relevant authorities and channels starting on Tuesday 31st March 2020 in a move that is expected to go a long way in cushioning the effects of the nationwide lockdowns in both countries.

AMG CEO Itai Maunganidze confirmed the development whilst stating the firm's donation as part of their corporate social responsibility initiatives.

"AMG notes with concern the rise in cases of the coronavirus and as part of our efforts in investing in the wellbeing of our communities we shall be immediately disbursing a fund of R10 million for South Africa through the Office of the the President and Ministry of Health and $5million for Zimbabwe through the Central Corona virus Task Force led by Vice President General (Rtd) Chiwenga," Maunganidze said.

The corporation, which holds various business interests across the board will be dispensing the funds through AMG and Cape Mint in South Africa with the Zimbabwean bound donation being channeled through Hamilton Insurance and AMG Zimbabwe.

The donation is the latest goodwill initiative spearheaded by the firm following the recent completion of a school in Zimbabwe under the Muzarabani Project. Zar1 million has been disbursed for the first school with 9 other schools set to be constructed through an AMG initiative.  AMG will commence the Muzarabani schools project once the situation returns to normal.

AMG Chairperson Estee Maman  added "This is our pledge to both Zimbabwe and South Africa as we are corporate citizens in both countries.  We will be monitoring the situation as we disburse the funds in the sincere hope that, along with efforts from dedicated critical staff on the ground and respective Governments, we may find a breakthrough during this difficult time. We are committed to play a part in our own way and urge everyone to remain resolute whilst following measures set by the authorities."

The Corona virus has been declared a global pandemic by the World Health Organization and the two southern African countries have not spared with numbers of infected and affected people steadily rising in recent weeks.
AMG's aid comes at a time that both countries have been calling for a united front from all sectors in a bid to curb the spread of the virus and the company also noted the efforts being taken by the Governments and everyone involved.

"We salute and offer our gratitude to all personnel contributing to the fight against the global pandemic, and as this difficult situation we find ourself in calls for all hands on deck and a collective response, till we find a lasting solution to this problem," said Estee Maman.

The group which is also involved in wealth creation and management as well as investment through various companies has been actively involved in economic revival efforts in Zimbabwe and South Africa counted on their business portfolio along with other countries.

African Medallion Group is recognized as one of the most successful and trusted gold companies in the world and has over the years produced various landmark gold medallions and coins to mark special occasions as well as boost various investment opportunities through gold.  AMG is frequently involved community and empowerment initiatives.

Source - Agencies