Ivorian banker Jean Diagou’s NSIA Group snaps up four Sanlam units
Diagou and his family own 61 percent of NSIA Group.
Diagou and his family own 61 percent of NSIA Group.
SIH is Sanlam’s third-party asset management company.
The divestment is consistent with the group’s strategy to simplify its UK operations.
The new entity is expected to have a combined total group equity value in excess of $2.1 billion.
Motsepe owns a minority stake in Sanlam through his financial business Ubuntu-Botho Investments.
The company’s merger with Absa Investments will result in one of the country’s largest Black-owned asset managers.
Sanlam seeks to acquire Alexander Forbes and an additional 22.8-percent stake worth R2 billion in Saham Assurance Maroc.
The deal would create one of South Africa’s biggest lenders.