Hard lockdown was a brave move, on balance - Discovery CEO
Discovery Limited has released its results for the year ended 30 June 2020.
Along with medical aid Discovery Health the Discovery Group offers traditional insurance cover and investment services.
Most companies have been slashing and burning their costs going into this lockdown... Discovery, though, did keep investing through the lockdown on new business initiatives..Bruce Whitfield, The Money Show host
Bruce Whitfield interviews Discovery Limited founder and Group CEO, Adrian Gore.
I think it's more about seeing opportunities in difficult times. We're building some remarkable things. I'm very excited about Discovery Bank.Adrian Gore, Founder and Group CEO - Discovery Limited
I think the year under review shows that we are getting tremendous traction in these initiatives... We remain committed.Adrian Gore, Founder and Group CEO - Discovery Limited
One of the things that we've done in this period is we set up a Covid provision of over R3.4 billion... We're trying to make sure we get to the other side in a very strong way.Adrian Gore, Founder and Group CEO - Discovery Limited
At the moment we're behind, luckily... I think even if there's a second wave now, the provision should be adequate.Adrian Gore, Founder and Group CEO - Discovery Limited
Gore describes government's decision to lock down early and hard as a brave move from the epidemiological perspective.
Regarding the economic effect, any lockdown is pretty dire he points out.
For more detail, listen to the interview on The Money Show:
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