Broadcasting
Sanlam, Allianz Partners to Create African Insurance Giant
Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with a century of history in Africa, have agreed to combine their current and future operations across Africa to create the largest Pan-African non-banking financial services entity on the continent.
This combination means that customers across Africa will benefit from the expertise and financial strength of two respected and well-known brands.
The joint venture will house the business units of both Sanlam and Allianz in the African countries where one or both companies have a presence. Namibia will be included at a later stage and South Africa is excluded from the agreement.
Strong synergies
The combined operations of Sanlam and Allianz will create a premier Pan-African non-banking financial services entity, operating in 29 countries across the continent. The joint venture will be the largest Pan-African insurance player and is expected to be ranked in the top three, in the majority of the markets where the entity will operate. The entity is expected to have a combined total group equity value (GEV) in excess of 33 billion South African rand (approximately 2 billion euros).
Sanlam and Allianz will leverage each other’s strengths to unlock synergies and provide customers with best-in-class, innovative insurance solutions and technical excellence. The joint venture will create value for all stakeholders through greater economies of scale, broader geographic presence, larger combined market share, and a more diversified product offering.
Combining Sanlam’s expertise in Africa with Allianz’s global capabilities and insurance solutions, particularly for multinational businesses, the partnership aims to increase life and general insurance penetration, accelerate product innovation and drive financial inclusion in high-growth African markets.
“In line with Sanlam’s stated ambition to be a leading Pan-African financial services group, the proposed joint venture will enable us to take a significant step towards realising that ambition. It will also strengthen our leadership position in multiple key markets that are core to our Africa strategy, building quality and scale where it matters.
“We are delighted to have Allianz as partners and believe their expertise and financial strength will add tremendous value to our businesses,” says Sanlam Group CEO Paul Hanratty.
“In accordance with our enterprise strategy to expand our leadership position through scale and new partnership models, Allianz is pleased to accelerate its growth in this important region through a partnership with the undisputed market leader.
“Sanlam’s capabilities extend our local reach and market penetration, and the joint venture allows us to establish leading positions in key growth markets for Allianz,” says Member of the Board of Management of Allianz SE Christopher Townsend.
“Further, Sanlam shares our company values, our purpose of securing the future for our clients, and our long-term, generational approach to growing in new markets.”
The chairmanship of the joint venture partnership will rotate every two years between Sanlam and Allianz. The CEO of the entity will be named in due course.
The agreement is subject to certain conditions precedent, including but not limited to the receipt of required approvals from competition authorities, financial/insurance regulatory authorities and any customary conditions that Sanlam and/or Allianz would be required to fulfil for each jurisdiction.
Spotify, the Swedish audio streaming and media service provider, paid over $38 million in royalties last year to Nigerian artists who are riding on the wave growing interest in music from Nigeria and African continent.
Elsewhere, South African performers reached $21 million, up 54 per cent year- on-year.
In total the two biggest African markets got around $59 million last year.
Meanwhile, the Swedish company paid out some $10 billion in royalties worldwide in 2024.
And while Africa represents only a small part of its offering, interest in African artists has ballooned, buoyed in part by internationally recognised acts like South African singer Tyla and Nigeria’s Burna Boy.
Around 250 million user-created playlists now feature at least one Nigerian artist, and 220 million contain a South African, the company said on Thursday.
“What we’re seeing is an excellent evolution around more and more mid-tier or up-and-coming artists making a living,” said Jocelyne Muhutu-Remy, Spotify’s managing director for Sub-Saharan Africa.
Much of that came from outside their home markets.
Nigerian artists have seen a 49% increase in export growth over the past three years, while South Africa saw export growth of 104%.
The number of Nigerian artists earning 10 million Naira, meanwhile, doubled year-on-year and has tripled since 2022.
In South Africa, the number of those earning between 100,000 and 500,000 rand has doubled over the past three years.
CNN International’s magazine programme, African Voices Changemakers, sponsored by Globacom, will this week celebrate two of Africa’s biggest gospel music stars, Nathaniel Bassey and Mercy Chinwo.
The 30-minute programme will showcase the gospel stars who are expected to bring their unique gospel vibes to the show.
Nathaniel Bassey, a Nigerian singer, trumpeter, and gospel songwriter, has gained massive popularity with his songs like “Yahweh Sabaoth”, “Ebenezer”, and “Tobechukwu”.
Born on August 27, 1981, Bassey studied International Relations and Politics at the University of Lagos and later Music at Middlesex University Summer School in the UK., Bassey’s music has inspired countless fans around the world.
The second guest, Mercy Chinwo, is a Nigerian gospel singer, actress, and songwriter who began her music career at age six. She signed with EeZee Conceptz in 2017 and released her first single “Excess Love” in 2018.
Chinwo has won several awards, including the Gospel Artiste of the year at the AFRIMMA Awards in 2020. With her powerful voice and captivating stage presence, Chinwo has made a significant impact on the gospel music scene across the globe.
African Voices Changemakers will air on Saturday at 8:30 a.m., with repeats on the same day at noon, and on Sunday at 4:30 a.m. and 2 p.m. The show will also air on Monday at 4 a.m. The same broadcast schedule will be repeated next week.
Netflix has expanded its language options for television viewers, allowing users to select from the full list of available subtitles and dubbing languages for any title.
This update aims to make Netflix’s global catalogue more accessible, especially as nearly a third of its viewership comes from non-English language shows.
Previously, TV users could only choose from a limited selection of languages based on their location and settings.
Now, they can access the complete range of available languages for any title, similar to the flexibility already offered on mobile devices and web browsers.
For instance, a user can watch an English title like “Bridgerton” with Spanish dubbing and Korean subtitles, or opt for Japanese dubbing with Portuguese subtitles.
Netflix offers subtitles in 33 languages and audio dubbing in 36 languages across its catalogue, though the exact number of available languages may vary by title. This change responds to numerous user requests for more language options on TV platforms.
This move reflects Netflix’s commitment to enhancing accessibility and catering to its diverse global audience by providing more inclusive viewing experiences.
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