Sanlam says half-year earnings fell by up to 35% partly because of once-off charges linked to its broad-based black economic empowerment (B-BBEE) scheme.

The financial services firm recognised an expense of R1.7bn after issuing shares to a new B-BBEE entity — a move it says will "position Sanlam as the foremost empowered insurance and investment management group in SA"...

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