Sagicor's Zacca says many millions spent on Sigma run yearly


Sagicor's Zacca says many millions spent on Sigma run yearly

Observer business reporter

Wednesday, January 15, 2020

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With its much-anticipated annual Sigma Corporate Run now starting to take shape for the 2020 edition, the Sagicor Group revealed that it costs the company millions of dollars to catapult this flagship event into life.

The Sagicor Sigma Corporate Run raises much-needed funds for beneficiaries, which include some of the country's most vulnerable.

Despite having to find millions from its coffers, year after year, to offset overheads and make additional spending in maintenance, Sagicor says this is done with pride. They believe that any money used which is geared towards improving lives and circumstances is money well spent.

Speaking at a recently held Jamaica Observer Monday Exchange, president and chief executive officer of the Sagicor Group, Christopher Zacca revealed that operational expenses for the event each year tend to be greater than the funds actually raised.

“In terms of what we draw cheques for, the Sigma run and all the other activities of corporate social responsibility through the foundation...we spend well over one hundred million dollars — and this of course is separate from the amount raised from the Sigma run,” he shared.

Zacca also noted that it is the culture of giving back and making a difference since the company's inception that has prevailed throughout, even now as the company celebrates 50 years.

For him the support given over the years is far greater than any corporate social responsibility.

“All of us [at Sagicor] feel that giving back and being socially responsible is a core part of our DNA. It is the centrepiece of what we do and, that is, giving back to the communities we serve, it is a central part of our vision,” Zacca added.

He then stated that even at an individual level, his staff is committed to the task, as they not only give of themselves in service but they also contribute to the event from their personal funds.

“We don't just talk-the-talk, we walk-the-walk. It may not be known, but Sagicor team members actually take out of their own pockets and contribute. Our executives and board members are also big, big contributors in terms of providing cash towards the stated target,” he disclosed.

The Sagicor Sigma run, which is set to take place on February 16, seeks to raise over $50 million with Sagicor expecting 27,000-30,000 participants to run/walk for the cause.

Funds raised from this year's staging are earmarked for Savanna-la-Mar Hospital and Clifton Boys' Home in Westmoreland, as well as the operating theatre and Special Care Nursery at Bustamante Hospital for Children in St Andrew.

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