The Competition Tribunal Approves The Acquisition Of AfroCentric Group By Sanlam
The Competition Tribunal Approves The Acquisition Of AfroCentric Group By Sanlam. The Tribunal has unconditionally approved the proposed merger wherein Sanlam Ltd and Sanlam Life Insurance Ltd intend to acquire shareholding in AfroCentric. Post-merger, Sanlam will have sole control over the AfroCentric Group.
Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X.
The Sanlam Group provides, among other services, healthcare advisory or consulting services to individuals. It provides the following services to the AfroCentric Group: Potential sales leads for individual healthcare advice; Co-branding, white labelling, and marketing of AfroCentric’s healthcare products; and Underwriting services for cell captive short-term insurance products.
AfroCentric is a black-owned JSE-listed investment holding company providing services and products to the healthcare sector. The Group was founded in 2008 on the core philosophy of promoting transformation and empowerment. The AfroCentric Group provides, among other services, healthcare advisory or consulting services to individuals. It provides the following services to the Sanlam Group: marketing services; potential sales leads for non-life insurance products; and corporate wellness services.
