Douw Steyn pledges R320m for coronavirus relief

Billionaire
businessman Douw Steyn, through the Douw Steyn Family Trust and companies he
founded, has pledged R320 million to assist coronavirus relief efforts.

R50
million of the donation will go towards the National Solidarity Fund, R200
million will go towards supporting feeding schemes in areas including Diepsloot,
and a relief fund of up to R70 million has been put in place by Telesure
Investment Holdings, one of the companies funded by Steyn.

TIH
CEO Tom Creamer said the fund had been set up in response to President Cyril
Ramaphosa’s call to fight against the coronavirus pandemic and its “ripple
effect”.

“As
good corporate citizens, we have a responsibility to provide assistance to the
vulnerable in our communities; lend a helping hand to small businesses,
including those in our value chain that have been impacted and disrupted by the
pandemic; offer peace of mind to our customers; and ensure the safety and
livelihood of our employees,” said Creamer.

Like many other executives have
pledged to do in recent weeks, Creamer has also donated a third of his salary to
the Solidarity Fund.

Creamer said the Diepsloot programme would be
carried out alongside non-profits including Afrik Tikkun, The Diepsloot Youth
Programme and the Steyn City Foundation. A donation had been made to the
Witkoppen Clinic and there would also be a partnership with Gift of the Givers.

South African businesses founded by Steyn include
Telesure Investment Holdings (TIH) which incorporates popular insurance
companies Auto & General Insurance, 1st for Women Insurance, Dialdirect
Insurance, Budget Insurance, 1Life and hippo.co.za, and property companies
Saxon Hotel and Steyn City Properties.