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Thursday 8 March 2018

SAHAM Group Sells its Insurance Business to South-Africa’s Sanlam

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SAHAM Group Sells its Insurance Business to South-Africa’s Sanlam

South-African group Sanlam, SAHAM’s partner since February 2016, will increase its stake in the capital of SAHAM Group’s insurance subsidiary, from 46.6% to 100%, Saham Group announced on Thursday.

Listed on the Johannesburg Securities Exchange, Sanlam is a leading Pan-African financial services group with a market capitalization of over US$16 billion. The Group intends to strengthen its position on the continent with this transaction.

SAHAM’s insurance business, which started its strategic development in Africa in 2010, is now present in 26 countries through 35 insurance companies.

The acquisition amounts to 1.05 billion dollars, the source said.

SAHAM group attracted a total of $ 1.7 billion of foreign investments to Morocco since 2012, largely through its partnership with Sanlam.

In order to fast-track its transformation into an investment fund, SAHAM group has simplified its shareholding structure by buying out French group Wendel’s shares.

The partnership with Wendel was instrumental in increasing the group’s diversification since 2013.

-MAP-08/03/18

 SAHAM Group Becomes Pan-African Investment Fund

SAHAM group will transform into a Pan-African investment fund, with the ambition of strengthening its position as a strategic continental economic player.

This transformation into an investment fund will strengthen SAHAM Group’s footprint, with over 14.000 employees and several sectors in its portfolio after this transaction, SAHAM Group said in a release.

Key partnerships are expected to be announced soon as well as strategic acquisitions.

“SAHAM Group's DNA lies within its ability to bring together leading international investors, such as the World Bank, Kingdom Zephyr, Abraaj, Allianz, Bertelsmann, Wendel and more recently the Sanlam Group. As part of its transformation into a Pan-African Investment Fund, SAHAM will now attract new partners, to break new ground, and invest in future-oriented businesses, development accelerators for our country and our continent,” Moulay Mhamed Elalamy, SAHAM Group’s spokesman said on this occasion.

Saham Group announced on Thursday its decision to sell its insurance business to South-African group Sanlam, which will increase its stake in the capital of SAHAM Group’s insurance subsidiary, from 46.6% to 100%.

The acquisition amounts to 1.05 billion dollars.

SAHAM’s insurance business, which started its strategic development in Africa in 2010, is now present in 26 countries through 35 insurance companies.

-MAP-08/03/18