Pan-African insurance giant, Sanlam has signed an agreement with MultiChoice to acquire a 60% stake in its insurance division, NMS Insurance Services (NMSIS).
Under the terms of the transaction, Sanlam will pay an initial amount of US$65.6 million to MultiChoice, followed by an additional cash payment US$82 million, depending on the gross written premiums generated by NMSIS at the close of the 2026 financial year.
The transaction allows the pan-African group to broaden the scope of its insurance and financial services activities in Africa. The expansion of these activities outside of South Africa will be handled by its subsidiary, SanlamAllianz.
Sanlam is already in Ghana offering various insurance policies, including underwriting all the policies for aYo Intermediaries Ghana, the leading microinsurance company that enables MTN Ghana customers to buy insurance policies using airtime and mobile money.
