Bank On Me

Adrian Gore used to deliver cigarettes, made his name delivering health, and is now launching a bank. It’s a business that brought in $6.5 billion over 25 years of risk. He’s one of the few Africans bringing new ideas to challenge the world.

- Jay Caboz

Business in Africa has never been rougher, drop your guard for a second and chances are the new kid on the block will poleaxe you with a right hook. Just ask South African entrepreneur Adrian Gore, the founder of the $6.5-billion Discovery Limited, who built his empire by turning the health insurance industry on its head.

Now Gore has set his right hook on the banking industry with the launch of a $105-million bank. Just another day in the life of a man who takes a look at a market to see how he can disrupt it.

“It’s been a remarkable 25 years. It doesn’t feel like it. If you build a business and find the organization ages better than you do, then Discovery feels brand new… We are always immersed. No one is sitting here in the boardroom drinking cognac thinking about the past. We are humble because we are building, it’s like day one here,” says Gore.

Gore is seen as an innovator in Africa with plenty to say. This vision has seen the self-taught entrepreneur, and actuary by profession, work his way to a $522 million fortune. It’s a far cry from 1992 when Gore was the hungry new kid on the block tying on his gloves in the far corner.

“It started out as this anecdotally opportunistic idea, and as soon as we did it we knew, s*** this is big. This has got great potential.”

The key to Gore’s success was the idea to reward people for looking after their bodies.

“Health and life insurance are typically grudge purchases. Our fundamental success in this market has been making health insurance sexy, cool, accessible and different,” says Gore.

These days, one in every three South Africans put their money down in the hope of reward. It’s made Discovery the largest supplier of medical aid in the country.