Sanlam well capitalised to pursue mergers and acquisitions during pandemic
When the rest of the M&A world has come to a stop, Sanlam plans to keep discussions alive.
Sanlam plans to keep mergers and acquisitions discussions alive while most businesses are scaling back activity during the Covid-19 pandemic.
“Sanlam is very well capitalised,” CEO Heinie Werth told Bloomberg. “But we will have to take stock as the whole virus plays out and see what our priorities are. If there are good deals, we will find ways to do them.”
Lockdown has forced businesses to come to a grinding halt in South Africa, however, Sanlam plans to bolster its business in East and West Africa.
According to Heinie, sales in various markets have dropped as economies in Africa enter lockdown. “We anticipate more pain in months to come, with some clients likely to let their policies lapse,” he said.