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18 June 2024Insurance

Sanlam to buy majority stake in financial wing of top African media group

South African insurer and financial services provider Sanlam is set to bolster its presence across Africa by acquiring a majority stake in a composite micro-insurer for R1.2 billion ($66 million) upfront, with as much as another R1.5 billion in potential performance-based earn-outs down the road.

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