Sanlam and Santam have received the go-ahead to acquire the remaining 53,37% of Morocco-based SAHAM Finances after meeting all the conditions required by regulators in various jurisdictions.
From 9 October, Sanlam and Santam officially hold an effective interest in SAHAM Finances of 90% and 10%, respectively. The conclusion of the deal will transform Sanlam Group into a leading pan-African financial services group, opening a major growth drive and giving it unmatched access to the continent.
‘Sanlam, together with Santam, now has an unparalleled footprint and significant opportunity to be the preeminent insurance group right across the continent,’ says Sanlam Group CEO Ian Kirk.
Junior Ngulube, Sanlam Emerging Markets CEO, adds, ‘The two organisations complement each other very well. SAHAM has a very strong offering in insurance, health and assistance business – areas from which Sanlam can actually benefit.’
Sanlam, in turn, has strong expertise in life products, Junior adds, which the Group will call on to support and enhance SAHAM’s operations across Africa.
Click here to watch a message from Ian Kirk and Junior Ngulube.