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

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


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