Sanlam is strategically turning to India to bolster short-term profits as it navigates economic challenges in South Africa. CEO, Paul Hanratty, envisions a threefold increase in profits from its Indian ventures over the next decade. The partnership with Shriram Capital Group, established in 2005, currently contributes around 10% to Sanlam’s overall profits. India’s thriving $3.4 trillion economy, expanding five times faster than South Africa, provides a favourable environment for development. Despite facing obstacles in the South African market – power shortages and logistical complexities – Sanlam positions India as a promising market for financial expansion. The company additionally, eyes growth opportunities in select African markets and anticipates acquisitions for expansion in East Africa.
