'Visionary' South African businessman Douw Steyn dies

Douw Steyn, the South African billionaire businessman who founded the BGL Insurance Group, has passed away at the age of 77 after a long illness.

Steyn, known for his immense success in the global insurance industry, was a close friend of late statesman Nelson Mandela.

Their friendship began after Mandela's release from Robben Island, and Steyn provided him with both personal and professional support over the years.

Steyn’s death was confirmed by Steyn City Properties, the company behind the luxury estate he developed.

The Nelson Mandela Foundation honored Steyn as an exceptional entrepreneur and a trusted confidant of Mandela, who often turned to him for retreat spaces and support for his initiatives.

Steyn, whose entrepreneurial journey began in 1975, also established the Steyn Foundation to aid impoverished townships. He is survived by his wife and three children.