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Sanlam banks on IT to drive post-COVID-19 growth

Sanlam banks on IT to drive post-COVID-19 growth

Banking & FinanceEast AfricaIndustry VerticalsSouth AfricaTop Stories

Sanlam Kenya is planning to leverage on IT-based solutions to sustain its business growth as part of its post-COVID-19 recovery strategy.

The Nairobi Stock Exchange (NSE)-listed non-bank financial services provider, has been on a sustained recovery path in the last two years but acknowledged that business slowdown arising from COVID-19 ripple effects may impact its 2020 performance.

John Simba, Chairman, Sanlam Kenya, said the is banking on technology and partnerships to boost its post-COVID business recovery that has disrupted businesses across the world.

Simba said the firm will be banking on its human resource base and robust IT options to boost its distribution and customer service delivery platforms.

“The biggest opportunity in growing the Sanlam Kenya business lies in tapping technology to reach new market segments. This Digital Transformation is opening up alternative distribution channels while revolutionising the customer experience,” he added.

Last year, Sanlam Kenya with interests in Life and General Insurance business, managed to bounce back to full-year profitability, posting a net profit of US$ 1 million.

Simba said that the firm would maintain a strategic focus on on-going efforts to strengthen engagements with business partners while diversifying its insurance solutions to customers.

“We are navigating through the new normal by making the necessary changes in the way we operate to safeguard the lives of our staff and other stakeholders while building and enhancing trust with our customers and business partners,” Patrick Tumbo, Group CEO, Sanlam Kenya said.

To sustainably grow shareholder value, Tumbo said that the firm would continue innovating on the best way to increase its footprint, with technology at the top of the list to reach underserved markets.

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