Sanlam takes stake in Nigeria's Oasis

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Sanlam Independent Newspapers. Sanlam's Bellville head office in the Western Cape. Picture: David Ritchie.

Johannesburg - South Africa's Sanlam said on Monday it had acquired an indirect stake in Nigeria's Oasis Insurance after a company it partially owns purchased 71.2 percent in the motor and fire insurer.

Sanlam said in a statement FBN Life Assurance, which is part owned by Sanlam, had bought the stake.

Oasis gives Sanlam an entry point into the general insurance sector in Africa's most populous nation. - Reuters

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