Sanlam to acquire 25% stake in African Rainbow Capital for $218m.

Sanlam, a South African financial services group, agreed to acquire 25% stake in African Rainbow Capital, a fully black-owned and controlled investment company focusing on the South African and African financial services industry and businesses that deliver exceptional returns on equity, for $218m. The acquisition by Sanlam Life is part of a broader partnership with Ubuntu-Botho Investments (UBI) aimed at fostering competition and promoting financial inclusion within South Africa’s financial services sector.