South Africa has lost one of its most influential entrepreneurs, Douw Steyn, who passed away on Tuesday at the age of 77 after a prolonged illness. Steyn, a billionaire businessman, was renowned for his contributions to the insurance industry and his close friendship with the late Nelson Mandela. His death marks the end of an era for South Africa’s business community, where he was regarded as a visionary with a larger-than-life character.
Steyn’s journey to success began in 1975 when he founded Steyn’s Insurance Brokers, laying the foundation for what would become one of South Africa’s most prominent financial groups. He later established Auto & General Insurance, which grew into a major player in the sector. In the 1990s, he expanded internationally by launching BGL Insurance in the United Kingdom, extending his business empire across seven countries.
Beyond business, Steyn was a philanthropist committed to uplifting South Africa’s underprivileged communities. Through the Steyn Foundation, he actively contributed to improving the lives of those in impoverished townships, further cementing his legacy as a socially conscious leader.
Steyn’s relationship with Nelson Mandela was one of mutual respect and deep friendship. The Nelson Mandela Foundation acknowledged his unwavering support for the former president, stating that Mandela frequently sought Steyn’s assistance during critical moments. In 1992, as Mandela went through a difficult separation from Winnie Madikizela-Mandela, he found solace in Steyn’s home. Throughout the years, Steyn provided spaces for Mandela to retreat and played a crucial role in supporting his projects.
In addition to his business and philanthropic ventures, Steyn made a significant impact on South Africa’s real estate landscape. Around 2010, he spearheaded the development of Steyn City, a luxury estate that remains one of the most prestigious residential areas in the country. His company, Steyn City Properties, confirmed his passing and described him as an exceptional entrepreneur whose global business footprint left an indelible mark on the industry.
Steyn’s passing comes at a time when South Africa continues to grapple with economic challenges. His legacy, however, serves as a testament to resilience, innovation, and generosity. He leaves behind his wife and three children, who will undoubtedly continue his legacy.
As South Africa mourns the loss of one of its great business pioneers, Douw Steyn’s impact will be remembered for generations to come.
