Sanlam to take a breather after acquisition spree

Sanlam CEO Paul Hanratty says the group will be taking a breather from the buying spree it has been on in the past few years to focus on bedding down and integrating its newly acquired businesses.

Africa’s largest nonbank financial services group has been beefing up its presence in SA and the rest of Africa, even as it spread its wings as far afield as Morocco and India, as part of a strategy of giving it a fortress position in its home markets. Arguably its most prominent deal has been the one that will see it combine its local investment management business with Absa’s to create a black-owned asset manager with R1-trillion in assets...

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