Latest news with #SanlamGroup
Zawya
30-07-2025
- Business
- Zawya
South Africa: Accelerator programme empowers fintech startups to scale
As South Africa's financial and insurance technology sectors continue to evolve rapidly, black-owned businesses within these industries play a vital role in driving digital innovation and inclusive economic growth. To unlock their full potential, targeted support and investment are essential to fast-track this transformation. The Sanlam Group ESD Accelerator Programme, established by small business development specialist Edge Growth in partnership with the Sanlam Foundation, is a strategic support platform designed to help early-stage fintech businesses scale effectively and access tangible market opportunities. This 18-month programme offers qualifying entrepreneurs access to coaching, strategic support, and a rare opportunity to pitch directly to leading corporates, with participation at no financial cost and requiring only eight hours of commitment per month. The programme includes hands-on workshops, high-impact master classes led by business growth experts, one-on-one coaching from seasoned tech entrepreneurs, and access to advisory boards for strategic guidance. Entrepreneurs will also benefit from market access, with a chance to test and pitch solutions and the possibility of qualifying for grant funding. With previous cohorts achieving over 40% average revenue growth, the programme is designed to deliver real, measurable impact. Previous programme participants include brothers Sipho and Sifiso Mavuso, founders of Vuso Technology, a 100% black-owned ERP solutions provider, established in 2019 to address the shortage of black-owned ERP resellers in South Africa. Despite their accounting expertise and early certification in Sage systems, the company faced initial challenges with market access and brand visibility. Their turning point came in 2023 when they joined the Sanlam Group Enterprise and Supplier Development (ESD) programme. Through strategic mentorship, Vuso Technology improved its business model, enhanced its branding with a new logo and website, and received operational support, which included a R25,000 subsidy to purchase an inverter to be used during power outages. These changes led to improved efficiency and the company's successful securing of a major three-year private sector contract. Moving forward, Vuso Technology is preparing to become Oracle-certified, and plans to double their team from five to ten employees and a broader commitment to skills development. Vuso Technology's success illustrates how a combination of targeted support and entrepreneurial determination can accelerate growth and position SMEs to lead in high-value, tech-driven sectors. To be eligible to participate, businesses must be at least 51% black-owned, operate in the fintech sector, ideally be post-revenue with scalable solutions for the insurance industry, and be able to commit to the full 18-month programme. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
The Hindu
21-06-2025
- Business
- The Hindu
Investors want to buy multiple financial products under a single umbrella, says Shriram Wealth's Vikas Satija
Chennai-based Shriram Group, which recently announced its foray into the wealth management business in partnership with South African financial services player Sanlam Group that globally manages assets worth over $80 billion, said it would serve India's growing base of affluent and high-networth investors with personalised solutions designed with the help of artificial intelligence. Shriram Wealth, the wealth management arm of the group, said it would offer a range of services including wealth management, lending solutions, protection solutions, global investment opportunities, inheritance and legacy planning. On market potential, Vikas Satija, Chief Executive Officer and Managing Director, Shriram Wealth told The Hindu that: 'India has 30 lakh households with each home having investable financial assets in excess of ₹2 crore. This opens up a huge market opportunity for wealth- management business.' Although new investor behaviours have been constantly evolving, the traditional Systematic Investment Plan (SIP) alone attracted ₹26,000 crore a month, which amounts to savings of ₹2,64,000 crore a year. 'This gives lot of depth to the capital market today and SIPs can even help absorb some of the pressure from Foreign Institutional Investor exits and overall, manage the pressure on the markets,'' Mr. Satija said. On emerging investor trends, Mr. Satija, said clients were increasingly looking forward to buying multiple products from a single company, unlike the conventional way of going to banks/NBFCs for deposits, insurance firms for various insurances, someone else for mutual funds etc. 'The emerging trend is, customers now prefer to buy all what they want, in terms of alternate investments, under a single umbrella. They want a Swiggy or Zomato for financial services,'' he observed. Paul Hanratty, CEO, Sanlam Group said, 'We see wealth management as a natural evolution as India's economy grows, and people become wealthier. Our aim is not just to manage money, but to create meaningful solutions. This isn't a short-term play; we're here to build a trusted, customer-first wealth business in India for the next 100 years.'' Shriram Wealth said primary target audience would be typically individuals in the 45 years plus, as generally wealth resided in that age group while additional thrust would be on customer relationship over number of transactions. The company would also be deploying artificial intelligence to enable personalised advisory, to make risk profiling sharper to ensure real-time portfolio recommendations. A digital mindset would make Shriram Wealth a provider that is anticipating investor needs rather than just responding. Subhasri Sriram, MD & CEO, Shriram Capital said, the new business, wealth management, was a mission of the company to unlock financial prosperity for millions of Indians.
Mint
12-06-2025
- Business
- Mint
South Africa's Sanlam sharpens India focus with Shriram wealth management JV
India's Shriram Group and South Africa's Sanlam Group on Thursday announced the launch of a wealth management joint venture firm, which aims to have ₹ 50,000 crore in assets under advice over the next five years. Shriram Wealth, a 50:50 a joint venture between the two groups, is already operating in nine cities, and aims to soon expand to Nagpur and Coimbatore as well, as the company eyes India's growing affluent and high net worth investor base. With a strong focus on expanding into tier-II and tier-III cities and catering to a broad base of investors, Shriram Wealth is looking to scale rapidly. Sanlam Group is focused on three core markets—its home base South Africa, the broader African continent, and India, says Thian Fick, executive for India and Group Initiatives at Sanlam. He noted that with India's large population, strong demographics, and robust economic growth, the country's current 20% contribution to the group's business is set to grow significantly. Fick told Mint that sluggish economic growth in South Africa has pushed the group to seek opportunities elsewhere. 'That's where the strategy comes from–focusing on Africa beyond South Africa, and India–two markets where we believe our partnerships position us well for success,' he said. 'Simply, the growth rates of India relative to South Africa will make this contribution grow way beyond the 20% over time.' Vikas Satija, managing director and chief executive, Shriram Wealth, pointed out that high net worth individuals in the affluent segment are expanding at a compounded annual rate of 13-14%. When asked about the listing plans for Shriram Wealth, Satija said it is still early to discuss a timeline, but emphasized that the business is clearly built with a long-term vision. He added, 'Eventually, yes, listing could be part of the plan. I don't want to put my neck out and say whether that's in 7, 10, or 20 years—but at some stage one would want to. One goes to the market to raise capital and if you don't need capital, you may not go to the market.'
