The Santam Group has committed R200m toward Covid-19 relief efforts and the government’s Solidarity Fund. It also aims to help flatten the coronavirus curve through additional CSI initiatives and assisting its employees to deal with the impact of the pandemic.
The group has committed to contribute in the following areas:
Assisting clients with premium relief initiatives: R135m will be made available towards helping qualifying Santam clients in financial difficulty – both personal lines clients and SMMEs, with premium relief support over the next two months.
Assistance to suppliers – SMMEs: R20m has been set aside to assist Santam suppliers who experience a material drop in turnover and associated cashflow. Focus will be on the most vulnerable suppliers with turnover of less than R10m per annum but consideration will also be given to those with an annual turnover between R10m and R50m.
Contributing to the Solidarity Fund and CSI initiatives: A further R20m contribution will be made to the recently established Solidarity Fund and other CSI initiatives that are critical in the fight against the coronavirus pandemic. The donation will be distributed in the following manner:
R10m contribution to the Solidarity Fund,
R10m to fund various CSI initiatives, primarily to assist health workers and other essential service employees who risk their lives daily in the frontline fight against Covid-19.
An employee contribution facility (staff volunteerism) for Covid-19 will also be established, which Santam will match 100%.
“The fight against the coronavirus pandemic is a collective fight that calls for unity, patriotism and a deep sense of humanity from all South Africans,” says Lizé Lambrechts, CEO of Santam.
“We have decided to take a decisive stand and do all we can to support efforts to flatten the curve and lessen the economic impact on fellow South Africans. It is critical that we stay safe, stay at home and stop the spread of this highly contagious virus,” says Lambrechts.