Sanlam is on track to becoming Africa’s largest non-banking financial service group as it plans to acquire 100% of SAHAM Finances. Sanlam, together with subsidiary Santam, first acquired a joint 30% stake in SAHAM in 2016 and a further 16.6% in 2017. Sanlam chief executive Ian Kirk said increasing Sanlam’s shareholding in SAHAM is the next “logical step” for Sanlam and would allow it to have a more meaningful presence across sub-Saharan Africa and North Africa. “Since our partnership began in 2016, we have developed a number of projects to unlock synergies between SAHAM Finances and Sanlam. Its subsidiary SAHAM Assurance Morocco is listed on the Casablanca Stock Exchange.
Source: The North Africa Journal March 08, 2018 06:33 UTC