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Nov 2014 Sanlam Emerging Markets is consolidating its presence in Ghana. The South African insurer has just acquired a 40% stake in Enterprise Insurance, a company specializing in life insurance.
The transaction amounts to 240 million ZAR (21 million USD). Even if the country is facing many challenges, the group is willing to tap into the potential of the local market.
In Ghana, insurance penetration rate is only 1.1% and the average annual rate of premium growth over the last five years has been of 26%. At the end of June 2014, Sanlam had a capital of 3 billion ZAR (266 million USD) to achieve investments in Africa.