Sanlam takes indirect stake in Nigeria’s Oasis

Oasis gives Sanlam an entry point into the general insurance sector in Africa’s most populous nation.

Oasis gives Sanlam an entry point into the general insurance sector in Africa’s most populous nation. Picture: Sanlam.

JOHANNESBURG - Sanlam said on Monday it had acquired an indirect stake in Nigeria's Oasis Insurance after a company it partially owns purchased 71,2 percent in the motor and fire insurer.

Sanlam said in a statement FBN Life Assurance, which is part owned by Sanlam, had bought the stake.

Oasis gives Sanlam an entry point into the general insurance sector in Africa's most populous nation.