BIHL Group celebrates Sanlam and Allianz's merger to form SanlamAllianz, the largest non-bank financial service provider in Africa.

The BIHL Group, Botswana’s leading financial services provider, proudly recognises the formation of SanlamAllianz, marking the monumental merger of Sanlam and Allianz. Sanlam is Africa’s largest non-banking financial services provider, and Allianz is one of the world’s leading insurers and financial services providers. This historic union not only symbolises the future of financial services in Africa but also strengthens the position of BIHL Group on the continent.

Heinie Werth, CEO of SanlamAllianz, during a celebratory event hosted by the BIHL Group in Gaborone, underscored the enduring partnership BIHL and Sanlam have fostered over the last two decades. "BIHL Group’s stability, coupled with Sanlam's majority equity partnership, is a testament to mutual respect, collaboration, and service excellence to our clients," Werth stated.

SanlamAllianz currently operates in 27 African markets with over 80 businesses. This venture is the largest non-banking financial entity on the continent. Sanlam, with a majority stake of 60%, and Allianz, owning 40% with an option to increase to 49%, are committed to harnessing their combined experience for Africa's benefit. The joint venture possesses a combined group equity value of approximately R35 billion. Projecting benefits such as enhanced economies of scale, a diverse product offering, and a greater market share, SanlamAllianz is positioned to play a pivotal role in Africa's sustainability by advancing financial inclusion, innovative products, and sound governance.

At the event, BIHL Group's CEO, Catherine Lesetedi, noted this new venture as a significant step for the group. "Tonight, we celebrate this significant achievement through which the BIHL Group is now a proud member of SanlamAllianz.The BIHL Group is on the cusp of a new and exciting era, underpinned by another 48 years of excellence and growth, a chapter that should see the BIHL Group cement its position as a leader in financial services and truly live its purpose of “improving livelihoods” – contributing to the success of individuals and institutions alike and contributing to the economic development of our country. I am excited by this new chapter and hope that you can join us in this new and exciting journey to collectively leverage off the strength in numbers and the Global and African expertise that SanlamAllianz brings to the BIHL Group and to the people of Botswana.," she stated.

Affirming the BIHL Group's readiness to embrace this new chapter, Lesetedi stated, " Botswana is ready. The BIHL Group is ready. We are historically, culturally, and philosophically in tune with SanlamAllianz’s purpose of “Empowering generations to be financially confident, secure and prosperous. Our purpose of “Improving livelihoods” for and with Batswana to improve healthy, vibrant, and resilient communities aligns with this intimately and intricately.