Absa Financial Service will exchange its investment business for a 17.5% stake in Sanlam Investment Holdings
Absa has agreed to exchange its investment business for a 17.5% stake in Sanlam Investment Holdings, the newly empowered asset management unit of financial services group Sanlam.
Sanlam sold a 25% stake in its third-party asset management business to Patrice Motsepe's African Rainbow Capital Financial Service for R815m in late 2020. Though Sanlam retained a 75% shareholding in the Sanlam Investment business, it still qualifies as a black-owned asset manager in terms of the the financial sector charter...
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH: eNCA Business | Market wrapsNick Kunze fron Sanlam Private Wealth discusses today's markets.
Read more »
WATCH: Why factory activity lost momentum in SeptemberBusiness Day TV spoke to Absa senior economist Miyelani Maluleke about the recent PMI data
Read more »
WATCH: Why factory activity lost momentum in SeptemberBusiness Day TV spoke to Absa senior economist Miyelani Maluleke about the recent PMI data
Read more »
Eskom retirement fund targets infrastructure investmentFocus is on real assets such as toll roads, port projects and digital infrastructure
Read more »
Is now the time to buy London property?SPONSORED | For many African clients, owning real estate assets in the UK is about wealth diversification
Read more »
SIU warns cash crunch poses a major risk to its operationsCrime busting unit owed R619m and fears it will struggle to lure skilled investigators
Read more »