Zimbabwe: African Medallion Group in $5 Million Aid to Zim for COVID-19 Fight


African Medallion Group (AMG) has announced a US$5 million financial aid package to Zimbabwe to help the country fight the Covid-19 outbreak which has claimed one life among seven confirmed cases so far.

The firm, which has bases in Zimbabwe and South Africa, also extended a R10 million facility to assist the latter deal with same challenge.

The company announced it will start disbursing the financial aid through the relevant authorities and channels starting this Tuesday.

AMG chief executive officer Itai Maunganidze confirmed the development.

He said the donation was part of the company's 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 President and Ministry of Health and $5 million for Zimbabwe through the Central Coronavirus Task Force led by Vice President General (Rtd) Chiwenga," Munganidze said.

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

"This is our pledge to both Zimbabwe and South Africa as we are corporate citizens in both countries," AMG chairperson Estee Maman said.

"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 playing a part in our own way and urge everyone to remain resolute whilst following measures set by the authorities."

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

AMG's aid comes when both countries have been calling for a united front from all sectors in a bid to curb the spread of the virus.

The company also noted the efforts being taken by the Governments, and everyone involved.

The donation is the latest goodwill initiative spearheaded by the firm following its recent completion of a school in Zimbabwe under the Muzarabani Project.

ZWL$1 million has been disbursed for the first school with nine other schools set to be constructed through an AMG initiative.

AMG will commence the Muzarabani schools project once the situation returns to normal.

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

African Medallion Group is recognised 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.

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