The South African Sanlam acquires the insurance business of the Moroccan group Saham … which will evolve into a pan-African investment fund

After a negotiation that lasted for several months, the South African service group and financial insurer Sanlam has just increased its stake in the capital of insurance subsidiaries of the Moroccan group Saham from 46.6% to 100%.

This acquisition, subject to the agreement of the various regulators concerned, was concluded for an amount of $ 1.05 billion on the basis of a valuation of $ 158 per share.

It will enable Sanlam, with a market capitalization of $ 16 billion, to strengthen its presence on the African continent thanks to the 35 insurance companies in 26 countries that make up Saham’s insurance division.

Ian Kirk, Managing Director of the Sanlam Group, said: “We look forward to strengthening our investment in the Kingdom of Morocco, which is a formidable continental platform at the gateway to Europe and which enjoys institutional and macroeconomic stability . Our investments alongside the SAHAM group represent a real winning model of inter-African partnership. We hope to achieve other major projects together in the future. “

At the same time, Saham bought back the shares held by the French group Wendel in its shareholding and began its transformation into a pan-African investment fund. A strategy confirmed by Moulay Mhamed Elalamy, Administrator and spokesperson of the Saham Group.

“The DNA of the Saham Group lies in its ability to bring together leading international investors, such as the World Bank, Kingdom Zephyr, Abraaj, Allianz, Bertelsmann, Wendel and more recently the Sanlam Group. As part of its transformation into an African fund, Saham will now attract new partners, to break new ground, and invest in future-oriented businesses, accelerators of development for our country and our continent “

At the end of all these operations, SAHAM will have drained a total of $ 1.7 billion in foreign investment since 2012.

Magna MA04 for dump trucks in a diamond mine in South Africa

Southern African mining operator uses  24.00R35 Magna MA04 tyres for their Rigid dump trucks. The OTR tyres have now been mounted on all of their dump trucks and are used for the transport of the extracted raw minerals. In addition to tyres for the rigid dumpers, also their ADT’s are equipped with Magna.

The Magna MA04 is designed for dump trucks in heavy-duty mining conditions. The improvement shoulder and sidewall protection offer resistance to damage and different compounds are available to optimise performance for different applications.