Sanlam makes largest investment in its entire 100-year-old history

We started over 15 years ago [investing in the rest of Africa]…

Ian Kirk, Sanlam

We see Africa as the next Asia…

Ian Kirk, Sanlam

Sanlam will pay R16 billion (US$1.1 billion) to buy the remaining 53.37% of Morocco’s Saham Finances SA it does not already own.

The Cape Town-based company operates in 34 markets in Africa and the Middle East.

It has invested about R24 billion in Saham Finances SA since February 2016.

Saham Finances SA is Africa’s largest insurance company outside of South Africa.

The Money Show’s Bruce Whitfield interviewed Ian Kirk, Group Chief Executive Officer at Sanlam.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

What they are trying to do and what we’re trying to do is largely the same thing [to become a Pan-African insurer]… We only overlap in four countries…

Ian Kirk, Sanlam

They have a translator… it’s only in Morocco where it runs in French… we’ve been doing French classes…

Ian Kirk, Sanlam

The heavy lifting, where we look for control, is on the African continent…

Ian Kirk, Sanlam

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Sanlam makes largest investment in its entire 100-year-old history


Recommended

by NEWSROOM AI
Read More
Working abroad? New rules are coming! You're probably breaking the existing ones

Working abroad? New rules are coming! You're probably breaking the existing ones

Bruce Whitfield interviews Warren Ingram, a Personal Financial Advisor and Executive Director at Galileo Capital.

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.

'Get ready for tax levy to save Eskom, because the money is simply not there'

'Get ready for tax levy to save Eskom, because the money is simply not there'

Eskom has so much debt it threatens to break South Africa. Bruce Whitfield interviews Dr Adrian Saville of Cannon Asset Managers.

Cheekily named load shedding app EskomSePush goes from 2500 to 400 000 users

Cheekily named load shedding app EskomSePush goes from 2500 to 400 000 users

It’s now the most downloaded IOS app and 2nd most downloaded Android app in SA. Bruce Whitfield interviews co-founder Dan Wells.

Sanlam profits up 10% (boosted by strong offshore showing)

Sanlam profits up 10% (boosted by strong offshore showing)

The Money Show’s Bruce Whitfield interviews Ian Kirk, Sanlam Group Chief Executive Officer.

Sanlam offers R1m instant life insurance for R30 (there is, of course, a catch)

Sanlam offers R1m instant life insurance for R30 (there is, of course, a catch)

Like to live on the edge? Are you a mountain biker, trail runner, climber, rugby player or bungee jumper? This may interest you…

Popular articles
Traffic congestion: Capetonians spending 75% more time in vehicles

Traffic congestion: Capetonians spending 75% more time in vehicles

Cape Town has the worst congestion levels in the whole of South Africa.

'Bring back skilled engineers to Eskom' - Solidarity

'Bring back skilled engineers to Eskom' - Solidarity

Trade Union Solidarity says it supports Pravin Gordhan's idea that technicians who used to work for Eskom should be brought back.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.