Sanlam Investment Holdings has acquired shares in financial technology business EasyEquities.
Sanlam announced this week that its subsidiary, Sanlam Investment Holdings, had entered into an agreement to acquire a 30% stake in First World Trader, trading as EasyEquities, from Purple Group.
The transaction is subject to the fulfilment or waiver of certain conditions, including the approval of the Competition Commission.
EasyEquities has disrupted the investments sector with its low barriers to opening an investment account, through its low-cost platform.
The deal is one further step towards joint efforts by Sanlam Investments and EasyEquities to make it easier for investors to be able to save by facilitating easier access to investments.