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
How to build a business that will survive constant technological change

How to build a business that will survive constant technological change

The Money Show’s Bruce Whitfield interviews Pavlo Phitidis, founder of Aurik Business Accelerator.

How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

Will Government hit punch-drunk South Africans with more tax hikes in 2019?

Will Government hit punch-drunk South Africans with more tax hikes in 2019?

Revenue collections are surprisingly good, so far, thanks to the VAT hike. Bruce Whitfield interviews PwC's Kyle Mandy.

9 tough questions you should never be afraid to ask your financial advisor

9 tough questions you should never be afraid to ask your financial advisor

Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.

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
#Changemakers2018: I don't like talking about myself, but I need to - Ray Zondo

#Changemakers2018: I don't like talking about myself, but I need to - Ray Zondo

At the #Changemakers2018 conference, Deputy Chief Justice of SA Raymond Zondo spoke about the struggles he faced growing up.

News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.