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Allianz and Sanlam to create Africa joint venture

Germany's Allianz and South Africa's Sanlam have agreed to combine operations across Africa.

Source: Reuters.
Source: Reuters.

anlam last year disclosed it was exploring "strategic alternatives" with Allianz.

The group will operate in 29 countries and have an equity value of R33bn, or around €2bn, the companies said.

It will create "the largest Pan-African non-banking financial services entity on the continent," they said.

Allianz makes a small portion of its overall revenue in Africa but has been looking to expand.



SOURCE

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/
Read more: Sanlam, Allianz

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