M&A Roundup: MTN to offer Sanlam insurance products while Naspers expands into Asia
Also making headlines is Emira Property Fun buying SA Corporate Real Estate and Ethiopia.
MTN’s SA business, which has a micro-insurance partnership with financial services group MMI, has also partnered with Sanlam to provide a range of financial services via MTN’s digital platforms.
The partnership, announced on Tuesday, will see Sanlam offer its insurance products on MTN’s mobile app, Web site and USSD platforms.
Naspers’s payments and FinTech subsidiary PayU announced its acquisition of a majority stake in Red Dot Payment (RDP), a Southeast Asia-focused online payments business. The deal is valued at $65 million.
PayU CEO Laurent le Moal [pictured] said the investment was PayU’s “first step towards expansion in the Southeast Asia region”.
Emira Property Fund said it plans to buy out SA Corporate Real Estate, in another indication that consolidation in the real estate industry is gathering momentum. A successful acquisition of SA Corporate Real Estate by Emira is set to create a real estate group worth about R16 billion.
Ethiopia’s government said it will grant two telecommunications licences to private firms and sell a minority stake in Ethio Telecom, the sole operator, as the government opens sectors long closed to outsiders.