STAFF WRITER
Securities dealing firm Morgan &Co. has said its brokerage from all trades to be executed on May 5 will be donated to the ministry of Health and Child Care as the corporate sector joins the fight to contain the spread of coronavirus pandemic.
The support comes barely a week after the Zimbabwe Stock Exchange (ZSE) implored capital market players and the investing public to partner the bourse following its decision to forward levies collected from trades executed from April 24 to 30 to the Ministry of Health to help in the fight against Covid-19.
In a notice to clients and stakeholders, Morgan &Co. said the move to donate follows the declaration of Covid-19 as a national disaster and a call by ZSE for capital market players to chip in.
“Morgan &Co. advises its valued clients and stakeholders that its brokerage from all trades to be executed on Tuesday the 5th of May 2020 will be donated to the Ministry of Health and Child Care to help them in the fight to treat and contain the spread of Covid-19,” the company said.
It said the total raised would be announced on May and that it was committed to the expansion of local capital markets and supporting the community.
The cash-strapped government has extended its begging bowl to the corporate sector to help contain the virus. Last week, the government reduced the quarantine period to seven from the mandatory 14 days due to a cash squeeze despite Treasury announcing monthly surpluses. Coronavirus, also known as Covid-19, began in China’s Hubei province in December last year.
Globally, there are over 3m confirmed cases and over 200 000 deaths. As of Tuesday, Zimbabwe had 32 confirmed cases, four deaths and five recoveries.
