Douw Steyn Family Trust pledges R320m to fight Covid-19
Residents watch as South African National Defence Forces, patrol on the street of a densely populated Alexandra township in Johannesburg, South Africa, Thursday, April 16, 2020. South African President Cyril Ramaphosa extended the lockdown by an extra two weeks in a continuing effort to contain the spread of COVID-19 coronavirus. (AP Photo/Themba Hadebe) Residents watch as South African National Defence Forces, patrol on the street of a densely populated Alexandra township in Johannesburg, South Africa, Thursday, April 16, 2020. South African President Cyril Ramaphosa extended the lockdown by an extra two weeks in a continuing effort to contain the spread of COVID-19 coronavirus. (AP Photo/Themba Hadebe)
JOHANNESBURG - The Douw Steyn Family Trust, on behalf of Douw Steyn and his family, along with the South African companies he founded – Telesure Investment Holdings, incorporating Auto & General Insurance, 1st for Women Insurance, Dialdirect Insurance, Budget Insurance, 1Life and hippo.co.za; as well as Steyn City Properties and the Saxon Hotel, have responded to the President’s call to unite in the fight against the Covid-19 pandemic and its ripple effect, with a pledge of R320 million, in strong and continued support to the community.
Ian Leech, a Trustee of the Douw Steyn Family Trust said, “The Steyn family feels strongly about the role of corporate citizenship in contributing to the success and wellbeing of the society in which we operate. The Covid-19 pandemic, which poses such significant economic and humanitarian challenges, requires unified solutions and collective action. We hope this donation will provide a tangible difference to the communities we serve.”
Speaking on behalf of the companies that have contributed towards the fund, Tom Creamer, CEO of Telesure Investment Holdings (TIH) said, “During these unprecedented times, 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 ensuring the safety and livelihood of our employees.”
The focus areas for the financial contribution are multi-faceted in order to meet the very real and diverse needs over this time.
R50 million will be donated to the National Solidarity Fund, set up by the President and which has a specific emphasis on both medical and humanitarian needs, including the provision of food and curbing the scourge of increased Gender-Based Violence. A further R200 million, has been earmarked to primarily support feeding schemes in the TIH and Steyn City Properties neighbouring communities, including Diepsloot, via non-governmental organisations and non-profit organisations.
A relief fund of up to R70 million has been put in place by TIH to assist small businesses, including those within its supply chain, which are not able to earn an income during the lockdown period.
“We stand together, united in our quest to respond appropriately and responsibly to help South Africans triumph over this pandemic,” concludes Creamer.