- The Group invested more than ZWL9.8 million in various CSR initiatives
- Reconstruction of classrooms at Charleswood Primary School was completed
- About FBC Holdings and CSR
Harare - Despite the economic challenges caused by the outbreak of COVID-19, the Zimbabwe Stock Exchange (ZSE) listed financial services provider, FBC Holdings said it invested more than ZWL9.8 million in various CSR initiatives in targeted segments, according to its financials statement released this week for the six months ended 30 June 2021.
COVID-19 posed a threat to the Group’s financial journey as shown by the half year results which saw its profit after tax declining by 84% to ZWL529 million.
However, the Group, whose flagship asset is FBC bank said, “The FBC Holdings Limited continues to champion sustainable Corporate Social Responsibility (CSR) initiatives through investment in key areas of priority, namely Education, Health, Sports, Arts and Tourism.”
In a statement accompanying the financials, the Group chairperson Herbert Nkala highlighted that underprivileged children across the country in all ten provinces have been sponsored prior the date to the announcement of the financials.
“The sponsorship also provides an opportunity for underprivileged academically gifted students in Zimbabwe to pursue university education,” Nkala added.
Meanwhile, the Group completed the reconstruction of four modern classrooms at Charleswood Primary School in Chimanimani with construction works for an additional four classrooms now at an advanced stage.
The school’s classroom blocks were destroyed by Cyclone Idai in 2019, a natural disaster that left some scars on the Zimbabwean economy.
FBC Holdings Limited is a financial institution in Zimbabwe providing financial products and solutions for retail, commercial and corporate banking.
Its range of products and services extends from savings deposit accounts and micro-lending in the informal market to foreign market investment, mortgage financing, micro-lending, re-insurance, short-term insurance and stock-brokering services.
Corporate social responsibility (CSR) is a business model in which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment.
As important as CSR is for the community, it is equally valuable for a company as it can help forge a stronger bond between employees and corporations, boost morale, and help both employees and employers feel more connected with the world around them.
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