Finance

Sanlam, Allianz join forces for a US$2.1 bln joint venture

Wednesday, 04 May 2022 17:40
Sanlam, Allianz join forces for a US$2.1 bln joint venture

(Ecofin Agency) - The two groups intend to create the largest African non-banking financial services entity. 

Sanlam, Africa’s largest insurance company, announced Wednesday, May 4, an agreement with Allianz “to combine current and future operations across Africa.” According to a joint release, the agreement aims to “create the largest pan-African non-banking financial services entity on the continent.” 

The agreement will be finalized once it is approved by regulators of the various markets where the two groups operate. According to data provided by Capital IQ, the two groups are present in 29 countries.

 Allianz is expected to own 40% of the joint venture, with the possibility to raise the stake to 49%.

As for Sanlam, it will consolidate its status as the leading insurance group in Africa with a 60% stake. The joint venture does not integrate Sanlam’s South African operations, which are by far the most important, the Namibian subsidiary, and Continental Re it acquired by taking over Morrocan group Saham. 

Based on June 2021 data, the joint venture will be valued at more than €2 billion (US$2.1 billion). There is one unknown factor, however: the impact the project will have on the two groups. For 2021, Sanlam Limited posted a US$13.7 billion turnover. 



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.