In March 2020, we witnessed the impact of the COVID-19 pandemic on countries, businesses, society and individuals as infection rates escalated in South Africa and around the world. The South African government, like the rest of the world, implemented emergency measures to curb the spread of the virus.
COVID-19 thrust a sudden set of new challenges on the Company. The Board supported the management team in rapidly activating a comprehensive response plan, with immediate steps to respond to the pandemic. This is underpinned by the repositioning of our strategy and revised operating model.
In responding to these new challenges, the Company required a swift pivot in its priorities to stabilise the business in the short-term, while chartering a path forward to the long-term sustainability under our revised strategy and operating model. We did this by conserving cash in operational and cash expenditure. Our primary focus is on the health and safety of our employees and stakeholders. Our material matters set out the strategic actions we have taken.