Achieving that purpose, driving that growth

Unrivalled long-term growth potential as the leading non-banking financial services group on the African continent. Supported by brand appeal and customer loyalty, a strong capital base and operational cash generation and the best skills and expertise in the industry, all built on our foundation of purpose, values and culture.

Diverse product

  • Insurance
  • Savings and Investments
  • Corporate
  • Asset and Wealth Management
  • Retail Credit
  • Financial Planning and Advice
  • Healthcare
  • Wills and Estates


  • Banks
  • Telcos
  • Financial Services
  • Non-financial Services
  • Retailers
  • Strategic co-investors in Africa


  • Modernising core business
  • Future-fit client ecosystems
  • Disruptive product innovation and digitalisation
  • Digital native businesses


  • Shared value creation
  • Financial inclusion
  • ESG integration in asset management
  • Partnerships


Sanlam Group today


Insurer on the continent

$9 billion

Group Equity value

$70 billion

Assets under management and administration

Providing superior financial advice to protect and grow wealth

Growth opportunities for
digital services in Africa

  • Strong population growth

    • 1.5 billion people by 2028
    • 2.4% CAGR growth expected (2023-2028E)
    • 19% of global population in 2028
  • Strong GDP outlook in the medium-to-long term

    • Average +3.9% CAGR real growth expected (2023–2028E)

  • Rapid urbanisation

    • Urban population to increase by c.104 million people, growing from 41% to 43% as a % of total population (2023–2028E)
  • Ease of doing business

    • Increased trade activity with the rest of the world
    • Improved ease of business over last decade

  • Mobile and broadband

    • 1.6 billion mobile subscriptions with c.1.1 billion smartphones by 2028
    • Current internet users at 45% of population

Bank account penetration %*
Credit and/or debit card penetration %*
Insurance penetration %
* Excluding South africa


A compelling investment case

Diversification by product line and geography creates stability in earnings and value creation

Modern omni-channel client engagement to meet clients where they are

At the core of our value creation philosophy is the client

Partnership model increases reach at scale and reduces risk

Disciplined capital allocation, track record of resilient and margin accretive growth

Transforming digitally to modernise current business and build new digital businesses to reach new client segments and revenue sources


Structured to deliver sustainable long-term growth

New business growth rates to exceed nominal GDP growth

Capital efficient business model

Self-financing business growth translates to value

Improving margins and ROC from scale, quality and efficiency

Long-term real RoGEV at attractive level


Consistent track record of sustainable growth

  1. Growth in Enterprise value*

  2. Annual ordinary dividend (cents per share)

  3. Line of business analysis

  4. Regional analysis

* measured by adjusted Return on Group Equity Value (RoGEV) per share

Understanding RoGEV per share

Our primary performance target for measuring shareholder value creation is Return on Group Equity Value (RoGEV), which reflects our success in growing the value of Sanlam’s operations over the long term.

What is RoGEV?

RoGEV is a robust forward-looking financial performance indicator that primarily measures the value we add for our shareholders. Given the direct relationship over the long term between shareholder and other stakeholder value creation, RoGEV indirectly reflects how successfully we create value for our other material stakeholders. For a business such as Sanlam, where earnings from a particular client solution emerge over a number of years, RoGEV is a more appropriate performance measure compared to traditional return on capital and earnings metrics. It combines current year earnings compared to expectations (short-term performance) and changes in future expected earnings (long-term performance) in a single performance metric. This makes RoGEV a robust composite value measure for a diversified group such as Sanlam.

What is GEV?

Group Equity Value (GEV) provides an indication of the value of Sanlam’s total business, including life and non-life operations. It does not represent an appraisal value of the Group as it does not place a value on new life insurance business that will be written in future. It includes:

Unlocking the growth potential into value returns by empowering generations to be financially confident, secure and prosperous


Transitioning to sustainable digital client relationships

Enhanced client reach and engagement through strategic partnerships

The journey to
digital business transformation

We are digitally optimising our Sanlam 1.0 traditional business to a more efficient tech enabled 2.0 provider, to better serve its existing customers. On these foundations, we are investing new capabilities and assets to build a disruptive 3.0 platform through scaling its financial services knowledge embedded in a new product innovation to serve the future financial market opportunity

New clients
New ecosystems
New channels
Net new revenue
New digital models

By embedding sustainability into our business strategy, we believe this is the best way for us to achieve our purpose

View more on our sustainability