South Africa Mourns The Passing Of Insurance Titan Douw Steyn
- South Africans are paying tribute to Douw Steyn, who recently passed away following a long battle with illness.
- Steyn was a billionaire who revolutionized the insurance industry in South Africa and left an indelible mark on the nation.
- Citizens across the country are celebrating his legacy and expressing their condolences to his family.
With nearly a decade of journalism experience, Tebogo Mokwena, a reporter for Briefly News, provides insightful commentary on South Africa’s dynamic business environment, drawing from his extensive work at Vutivi Business News.
JOHANNESBURG — The passing of Douw Steyn at the age of 71 has sent shockwaves through South Africa and beyond. Known as a titan in the insurance industry, Steyn’s legacy is one of innovation, resilience, and profound impact. Social media platforms have been flooded with tributes from people honoring his achievements and contributions to the nation.
A Trailblazer in Insurance
Douw Steyn wasn’t just a businessman; he was a visionary. According to Moneyweb, Steyn’s journey in the insurance world began in 1975 when he started selling car and home insurance. But it was a decade later that he truly disrupted the industry by launching Auto&General Insurance, the first company in South Africa to sell insurance over the phone. This groundbreaking move paved the way for future ventures like Budget Insurance, Dialdirect, 1st for Women, and Hippo.co.za, all of which became household names under his leadership.
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A Close Friend of Nelson Mandela
Beyond his business acumen, Steyn was also known for his close friendship with Nelson Mandela, South Africa’s first democratically elected president. After Mandela’s release from prison, he lived in Steyn’s Johannesburg residence, now known as the luxurious Saxon Hotel, Villas, and Spa. Steyn also gifted Mandela a stunning villa at the Shambalala Private Game Reserve in Limpopo, a property he owned. Additionally, Steyn developed Steyn City, one of South Africa’s most exclusive estates in Johannesburg’s northern suburbs, showcasing his commitment to building lasting legacies.
Other Notable Business Leaders Who Have Passed
The business community in South Africa has seen its fair share of losses in recent years. Raymond Ackerman, the founder of Pick n Pay, one of the country’s largest retail chains, passed away at the age of 92 in 2023. Ackerman’s legacy lives on through the more than 2,000 stores that continue to serve communities nationwide. In another tragic event, Markus Jooste, former CEO of Steinhoff, took his own life in 2024 after being fined half a billion rand for his involvement in a massive financial fraud scandal.
South Africans Honor Steyn’s Legacy
On social media platforms like Facebook, South Africans are expressing heartfelt tributes to Douw Steyn. Many are reflecting on the profound impact he had on the nation and the lives of countless individuals.
Bronwyn Mogorosi shared her thoughts:
“He’s done well for himself, his family’s upcoming generations, and for our country.”
Sompisi Phinda added:
“He built his legacy. His name will live on.”
Siyabonga Nxumalo remarked:
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“He built a beautiful city.”
Tilisa Booysen expressed gratitude:
“Thankful to Mr. Steyn. I started my working career at his company in 2000 and learned so much during my time there.”
Hlayisani Baloyi summarized the sentiment:
“A great entrepreneurial legend he was.”
The Passing of Former Minister Pravin Gordhan
In separate news, Briefly News reported the death of former Minister of Public Enterprises, Jamnadas Pravin Gordhan, in 2024. Initially, his family denied the reports, but they later confirmed his passing. Gordhan’s death came shortly after the 2024 general elections, in which his party, the African National Congress, lost its majority. Reactions to his passing have been mixed, reflecting the complex legacy of a man who played a significant role in South Africa’s political landscape.
