/CBZ commits to fighting COVID-19 pandemic

CBZ commits to fighting COVID-19 pandemic

By ZiMining Reporter

Leading Banking, Insurance, Investment and Agro Business firm, CBZ Holdings has committed to play its part in the fight against the Covid-19 pandemic that has had a negative impact on businesses and individuals.
The disease was first noticed in December last year in China before spreading to the whole world.
It was declared a pandemic by the World Health Organisation (WHO) in March this year.
So far mormrhan 700 000 fatalities have been recorded world wide.
In Zimbabwe, more that 80 have succumbed to the disease while cases have surpassed 4000.
Government has since adopted WHO guidelines and proclaimed strict lockdown, curfew from 6pm to6am, wearing is mask, sanitizing, among other health measures.
Presenting the company’s Audited financial results for the year ended 32 December 2019, CBZ Holdings Chairman Mr Marc Holtzman said despite the Covid-19 pandemic being disruptive during the first quarter of 2020, CBZ was committed to play a part in the fight against the disease.
“The Coronavirus Disease (Covid-19), which started in December 2019, became more pronounced an disruptive during the first quarter of 2020.
“The world Health Organisation (WHO) declared the disease a pandemic in March 2020, as more countries reported infections.
“It is too early to determine the potential full impact of the pandemic in global, regional and domestic economic and business activity.
“However, it is clear that the pandemic has already disrupted activity in the tourism, aviation, international trade, transport and remittances sectors.
“At the same time, the pandemic has resulted in emerging and increased opportunities in the healthcare and pharmaceuticals industry, with investors commiting funds towards research and development of vaccines, manufacturing of medical sector products and development of healthcare infrastructure.
“Moreover, Government efforts to support industries and the vulnerable groups, as well as rebuild and reintegrate their economies beyond the pandemic, if handled effectively, will also create more business opportunities.
“The CBZ group will continue to play its part in the fight against the Covid-19 pandemic,” he said.
CBZ posted a ZWL$312.5 million inflation adjusted profit after tax.
Mr Holtzman said mining, among other sectors, presented greater business opportunities for CBZ.

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