Coronavirus: SA billionaire Douw Steyn's family trust donates R320m

Coronavirus: SA billionaire Douw Steyn's family trust donates R320m

- South African billionaire Douw Steyn will also be contributing to the fight against the coronavirus

- Steyn's family trust has pledged a whopping R320 million to help the country during these difficult times

- The money will be split up to aid feeding schemes, relief for small businesses and a contribution to the Solidarity Fund

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South African billionaire Douw Steyn will be lending a helping hand to the country during the national lockdown.

Steyn's family trust will donate a whopping R320 million to help mitigate the impact of the Covid-19 pandemic on the country.

R200 million will be donated to feeding schemes, R70 million towards a relief fund for small businesses and R50 million will be given to the Solidarity Fund, The Citizen reported.

According to Business Day, the feeding schemes are the trust's primary focus and thus, the largest sum of the donation will go towards it. As many as 750 000 people could benefit from the feeding schemes.

Steyn's family trust is linked to businesses he started - including the umbrella corporation for brands including Auto & General, 1st for Women, Dialdirect and 1Life.

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."

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Steyn joins some of South Africa's other richest people to donate money towards the fight against the coronavirus.

Briefly.co.za previously reported President Cyril Ramaphosa announced during his national address on Covid-19 that the Rupert and Oppenheimer families would each donate R1 billion each.

Mining magnate Patrice Motsepe followed suit and pledged a further R1 billion to help fund the fight against the coronavirus pandemic in South Africa.

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Source: Briefly.co.za

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