We will weather coming polls effect, says Sanlam

Non-bank financial services firm Sanlam Kenya #ticker:PAFR says it does not expect the coming elections to significantly impact negatively on its business.

“ This is an election year in Kenya and, as in all elections, business performance is expected to remain muted. The effects of the drought are also expected to be felt throughout the country, impacting on growth and exerting inflationary pressures on the economy,” said Sanlam Kenya group chairman John Simba while admitting apprehension about the looming polls.

“Sanlam, however, remains optimistic of improved performance on the back of our continuous innovation, exploring new distribution channels, bringing to market new products and serving our customers with diligence.”

Mr Simba spoke at the firm’s annual general meeting (AGM) held in Nairobi.

Sanlam Kenya group chief executive Mugo Kibati told shareholders’ that the firm’s corporate strategy adopted last year has begun to bear fruit.

The strategy, he explained, focuses on clear integration of the group’s business divisions to enhance efficiency.

Sanlam Kenya, previously known as Pan Africa Holdings, is majority-owned by SA financial services group Sanlam at 68 per cent.

“At Sanlam Kenya, we have successfully integrated the various business lines including the general and life units,” Kibati said.