Sanlam and Allianz establish a joint venture in Africa

The Allianz and Sanlam groups have signed a partnership agreement to strengthen their respective activities in Africa (excluding South Africa).

The alliance will lead to the creation of the largest pan-African non-bank financial services entity on the continent.

The joint venture will operate in the 29 African countries (excluding South Africa) where one or both companies are operating.

The equity value of the new joint venture has been estimated at 2 billion EUR (2.1 billion USD).