Sanlam: Insurer plans for African acquisitions

Comment on this story

Sanlam planned to conclude three or four acquisitions in other African countries this year as it chased faster-growing markets, a senior official said. Sanlam, which already has businesses in 10 English-speaking countries on the continent, was turning its focus to neighbouring Portuguese-speaking nations and further afield to north Africa, its head of business outside South Africa said. “I would hope to have one wrapped up either in Mozambique or in Angola. I would hope for one or two in east Africa,” Margaret Dawes, Sanlam’s emerging markets executive director for Africa operations, told the Reuters Africa Summit. “Three or four I would hope.” Chief executive Johan van Zyl said last month Sanlam had a $374 million (R4 billion) kitty to spend on purchases in Africa and Asia. The company is moving into other countries to hedge against a maturing home market. Shares lost 0.18 percent to close at R54.89 yesterday. – Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.