Douw Steyn and his firms pledge R320m in fight against Covid-19
The funds will include a contribution to the Solidarity Fund, but efforts will focus on feeding schemes in the Diepsloot area
The family trust of billionaire entrepreneur Douw Steyn and related businesses, including Telesure and Steyn City, will contribute R320m across a range of initiatives to counter the health and economic fallout of the Covid-19 pandemic, the family said on Tuesday.
Steyn founded companies such as the Saxon Hotel, Steyn City and Telesure Investment Holdings (TIH), which owns brands including Auto & General, 1st for Women, Dialdirect and 1Life. The trust and the companies will focus efforts on supporting feeding schemes.
“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,” said Ian Leech, a trustee of the Douw Steyn Family Trust.
A total of R200m has been allocated to feeding schemes in Diepsloot and surrounding areas, where the donation will fund the delivery of food by three nonprofit organisations: Afrika Tikkun, Gift of the Givers and the Steyn City Foundation.
“Food deliveries have already begun,” TIH CEO Tom Creamer said. The feeding scheme could support as many as 750,000 people over a limited period of time he says.
“The focus areas for the financial contribution are multifaceted to meet the very real and diverse needs over this time,” said Creamer
In addition, TIH has mobilised R70m for a relief fund to assist small businesses within its supply chain that are not able to earn an income during the lockdown period.
The remaining instalment of R50m will be donated to the Solidarity Fund, which has a specific emphasis on medical and humanitarian needs, and to curb violence against women and children.
“We stand together, united in our quest to respond appropriately and responsibly to help South Africans triumph over this pandemic,” said Creamer.
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