Sanlam acquires 60% stake in MultiChoice's insurance business, NMS Insurance Services, for R1.2bn ($66m) to expand presence across Africa.

Sanlam, a South African insurer, will acquire a 60% stake in MultiChoice's insurance business, NMS Insurance Services, for R1.2bn ($66m). This deal aims to expand Sanlam's presence across Africa, leveraging MultiChoice's large subscriber base for cross-selling and cost-effective marketing. MultiChoice will retain a 40% stake in NMSIS and a 40% share in a commercial venture with Sanlam.

June 18, 2024
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