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Skip Navigation Linksoutlook-for-2019 Outlook for 2019

Outlook for 2019

We expect the economic and operating environment to remain subdued in our largest markets over the short term with a resulting impact on the Group’s key operational performance indicators. Low economic growth in our core South African market and political risk associated with the national election direct the persistent risk of a credit downgrade.

Regulatory changes in some markets support growth prospects but will add cost pressure compounded by increasing competition.

The Saham Finances acquisition and the package of BBBEE transactions have fundamentally changed Sanlam’s profile and future opportunities. They support our belief in the African growth story over the medium to long term. We will continue to invest on the continent and provide support for our emerging market businesses and their clients. We are dedicated to extracting Saham Finances synergies together with Saham Finances’ management and SNT, and will execute a turnaround in underperforming SEM businesses.

We have a bright future and I’ve no doubt the fundamentals are in place to put us on the map in 100 years’ time because the world will be very different then, business will be different, and Sanlam will be different – as it was 100 years ago


Our performance during our centenary year is pleasing. It reflects the diligence we have applied across our operations and our focus to deliver shareholder value under challenging conditions, while executing growth strategies. This is testimony to the benefits of our strategy that we embarked on more than a decade ago. We will continue with our strategic execution to ensure we realise further success for the business going forward.

The BBBEE transactions and achieving a level 1 status in terms of the FSC, positions us as a leading empowered business within our peer group and bodes well for market share gains in South Africa.

South Africa is in a somewhat better position than it was a year ago, but significant challenges remain. We are confident that Sanlam is also positioned for a new phase of growth and empowerment, thereby expanding its role in ensuring resilience and prosperity for stakeholders.

Sanlam sees the unrivalled potential and endless possibility that Africa holds.

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