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Making a Leading Contribution to BBBEE

In March 2019, Sanlam achieved a level 1 BBBEE status.

We Have Successfully Contributed to BBBEE Through the Following Primary Vehicles:

Ubuntu-Botho

Our partnership and empowerment deal with Ubuntu-Botho Investment Pty Ltd focuses on ownership.

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Sanlam Sky Solutions

Sanlam Sky Solutions is focused on creating access to financial services for the entry and emerging middle market.

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Sanlam’s verified Financial Sector Code scorecard

The key elements of Sanlam’s transformation are measured against the targets set for BBBEE, as determined by the Financial Sector Code in South Africa.

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The Sanlam Enterprise and Supplier Development Programme

This programme provides investment funding and business development support to small and medium-sized enterprises.

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Our Black Economic Empowerment (BEE) Timeline

Sanlam was founded to assist in empowering impoverished and economically marginalised Afrikaans people. However, the organisation has since led corporate South Africa in ground-breaking empowerment transactions – this time to benefit previously disadvantaged black South Africans.

We pioneered structured BEE in South Africa when we sold our controlling stake in Metropolitan Life to a black-controlled company, Methold, to shift some of the country’s wealth to its black population. This transaction led to the establishment of New Africa Investments Limited (NAIL), the first major black-controlled company to list on the Johannesburg Stock Exchange. This transaction excluded Sanlam from participation in the South African entry-level market for a period of 10 years.

We made history again when we became the first major financial services company in South Africa to conclude its own ownership empowerment transaction with Ubuntu-Botho. This became one of the country’s most successful BBBEE deals when it matured in 2014.

We announced a package of BBBEE transactions to the value of more than R10 billion, building on our relationship with Ubuntu-Botho and an expanded group of empowerment beneficiaries.

We Contribute to South Africa’s YES Initiative

We have allocated a significant amount of funding to the government-led Youth Employment Services (YES) initiative launched in 2018. This initiative aims to empower one million young South Africans by offering paid quality work experiences over the next three years.

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