Santam to raise its stake in Indwe Broker Holdings to 100%

Santam is set to increase its stake in Indwe Broker Holdings' capital from the current 24% to 100%.

To this end, the insurer intends to buy the remaining shares (76%) from African Rainbow Capital (ARC) Financial Services (51%) and Sanlam (25%), Santam's parent company. The transaction is valued at 125 million ZAR (8.3 million USD).