Business / Companies
Sanlam to expand into Zimbabwe
20 Mar 2015 at 08:21hrs | Views
SANLAM Emerging Markets says it is looking to expand into Zimbabwe in the next year or two.
If it expands into Zimbabwe, Sanlam will get an opportunity to sell the full gamut of nonbanking financial services in the country.
According to Business Day, the acquisitions will form part of a strategy by South African companies to tap into the higher economic growth and lower insurance penetration in the rest of Africa.
"I think the obvious gaps for us .... we still need to do Zimbabwe. Zimbabwe is a key market for us," Mr Majal said.
"We have to be in Zimbabwe. It's a matter of when. It's finding the right asset at the right price. I think Zimbabwe hopefully we will do it in the short-term in the next year or two and Angola in the medium-term."
If it expands into Zimbabwe, Sanlam will get an opportunity to sell the full gamut of nonbanking financial services in the country.
"I think the obvious gaps for us .... we still need to do Zimbabwe. Zimbabwe is a key market for us," Mr Majal said.
"We have to be in Zimbabwe. It's a matter of when. It's finding the right asset at the right price. I think Zimbabwe hopefully we will do it in the short-term in the next year or two and Angola in the medium-term."
Source - BDlive
