Sanlam and Allianz have officially launched their joint venture, SanlamAllianz, in Ghana.
This marks a significant step in creating a leading pan-African non-banking financial services entity with operations in 27 countries, including Kenya.
The partnership, combining Sanlam’s extensive African footprint with Allianz’s global insurance expertise, aims to expand access to savings, investment, and insurance products across the continent.
The joint venture, valued at over R35 billion (KES 251.5 billion), brings together the majority of both companies’ African operations.
By pooling resources and capabilities, SanlamAllianz seeks to drive growth and innovation in the insurance sector while addressing the specific needs of African customers.
Heinie Werth, CEO of SanlamAllianz, emphasized the company’s commitment to local leadership and market knowledge.
“Launching the SanlamAllianz brand in Ghana marks a new milestone for us and the broader financial services market. It demonstrates our strategy to leverage our expertise to create leading businesses in the economies where we choose to operate and supports our intention to enable access to financial services,” Heinie said.
The joint venture has appointed Tawiah Ben-Ahmed and Mabel Nana Nyarkoa Porbley as CEOs of SanlamAllianz Life Insurance Ghana and SanlamAllianz General Insurance Ghana, respectively.
With a target of reaching 50 million clients by 2025, SanlamAllianz is positioned to become a dominant force in African financial services. The partnership’s focus on expanding insurance penetration in the continent’s growing economies is expected to yield substantial benefits for customers and shareholders alike.
