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.

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