Sanlam’s R2.4bn investment signals deeper ties with African Rainbow Capital
Following its recent R6.5bn acquisition of Assupol, Sanlam wants to expand its footprint in the financial services industry with a 25% stake in ARC FSH.
Following its recent R6.5bn acquisition of Assupol, Sanlam wants to expand its footprint in the financial services industry with a 25% stake in ARC FSH.
The bank also says it closed the accounts of some 190 clients in 2023 following ‘reviews of client activity and related reputational risks’.
The appeal will leave it up to the Constitutional Court to decide whether the competition authorities can investigate and prosecute foreign-based firms.
Investec has expressed its readiness to present its case in the Competition Tribunal after the Competition Appeal Court dismissed the rand-fixing case against several banks, including Standard Bank, FirstRand, and Nedbank, this week.
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.