| Contribution to headline earnings | 30 June 2025 R million |
30 June 2024 R million |
|---|---|---|
| Discovery | 122 | 90 |
| FirstRand | 436 | 474 |
| Momentum | – | 160 |
| Other portfolio investments | 73 | 88 |
| 631 | 812 | |
Remgro sold its interest in BAT after year-end.

Discovery Limited
(Discovery)
Effective interest: 7.7%

Profile: Discovery is a global, integrated financial services organisation that uses a pioneering shared-value insurance model across businesses to achieve the core purpose of making people healthier and enhancing and protecting their lives.
Its products range from health insurance, administration and managed care of medical schemes, life insurance, short-term personal and commercial insurance, long-term savings and investments, banking and behaviour-change programmes.
Website: www.discovery.co.za
FirstRand Limited
(FirstRand)
Effective interest: 1.6%

Profile: FirstRand, through its portfolio of integrated financial services businesses comprising FNB, RMB, Wesbank, DirectAxis, Aldermore, MotoNovo, Ashburton Investments and MotoVantage, operates in South Africa, certain markets in sub-Saharan Africa, the United Kingdom and India.
Website: www.firstrand.co.za

