SIMCAP Buys out Sanlam Investment Management’s Stake

Proshare

Friday, December 5, 2014 5.40PM/NSE

  

The Board of SIM Capital Alliance Limited (SIMCAP) has announced the buyout of Sanlam Investment Management’s (Sanlam) ownership interest in SIMCAP by African Capital Alliance Holdings Limited (ACAHL).

 

The transaction, which has been approved by the Securities and Exchange Commission, is a result of Sanlam’s decision to streamline its hitherto multiple strategic interests in Nige



Sanlam is a leading financial services group listed on the JSE Limited and the Namibian Stock Exchange. Established in 1918 as a life insurance company, the South Africa-based Sanlam Group has transformed into a diversified financial services business hrough its four business clusters – Sanlam Personal inance Sanlam merging Mar ets Sanlam In estments and Santam the roup pro ides comprehensive and tailored financial solutions to individual and institutional clients across all market segments he roup’s areas of expertise include insurance financial planning retirement trusts wills, short-term insurance, asset management, risk management and capital market activities, investment and wealth. The Group operates in South Africa, Botswana, Swaziland, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, Ghana, Nigeria, India, Malaysia and the United Kingdom and has business interests in the USA, Australia and the Philippines. It has a stake in leading global microinsurance specialists, UK-based Micro-Ensure Holdings Limited, which has a footprint across Africa and India servicing more than 10 million enrolled clients.

 

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