Seed Co reports 98 percent employee COVID vaccination rate

GCEO Morgan Nzwere said the Group experienced employee embrace of the vaccine.

Seed Co Limited group chief executive Morgan Nzwere

HARARE – Leading producer and marketer of certified crop seeds in Zimbabwe, Seed Co Limited announced a 98% COVID-19 vaccination rate among its staff members, with the remaining two percent waiting for the jab subject to special conditions.

Speaking during the presentation of the Group’s full-year financial results for the period ended 31 March 2021, Group Chief Executive Officer Morgan Nzwere said that the COVID-19 pandemic “continued to ravage economies and livelihoods.”

He highlighted that the Group experienced employee embrace of the vaccine.

The commendable high vaccination levels by the Zimbabwe Stock Exchange-listed seed company comes at a time other firms are reportedly taking tough approaches to push employees to take their sleeves up, including termination of contracts and forced leave.

According to the Ministry of Health and Child Care Zimbabwe, as at 26 July 2021, Zimbabwe had 99 944 confirmed cases, including 67 827 recoveries (67% recovery rate) and 3 173 deaths.

A total of 1 491 493 people have been vaccinated (1st dose) against COVID-19 with 687 216 of those having received the second dose.

Seed Co had more to celebrate after recording a positive financial and operational performance during the 2021 financial year.

The Group’s revenue in real terms at ZWL5.8 billion grew by 60% from ZWL3.7 billion a year earlier driven by a 36% volume surge and price adjustments.

Maize remains the flagship seed crop contributing 55% of the volume and growing by 61% due to strong government and Open Market demand buoyed by better rains and also 3,600mt exports to Malawi, Tanzania and Mozambique.

Wheat sales grew by 66% buoyed by a once-off 2000mt export order to Nigeria while soybeans volume was 17% driven by strong oilseed local demand.

Sorghum & barley was stable.

“Subject to favourable climate and economic conditions, Seed Co Limited is expected to ride on the good performance achieved in the just ended financial year on the back of the anticipated continuation of government programs ahead of 2023 elections,” said Nzwere.

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