Sanlam says it is confident about the sustainability of its partnership with Saham Finances SA after it was criticised by a prominent Moroccan financial figure over the SA government's support for Western Sahara.
On Tuesday Bloomberg reported that Moroccan billionaire Othman Benjelloun spoke out against Sanlam’s acquisition of the insurer, saying the SA government has chosen the wrong side in the territorial dispute.
South Africa government supports a group called the Polisario Front, which is seeking self determination in the Western Sahara territory which Morocco claims for itself.
“Sanlam has been made aware of media reports referring to Mr Othman Benjelloun’s comments about Sanlam’s acquisition of Saham Finances and other matters," the group said in a statement.
"Sanlam is confident about the strength and sustainability of its partnership with Saham Finances, which commenced in early 2016. The Saham Finances’ board, Sanam (Sanlam’s partner in Morocco), the executive team and staff are fully supportive of the partnership and our efforts to build a Pan African insurance group."