Sanlam, Africa’s biggest insurer, has underscored its ambition to expand by tapping into growth opportunities in markets where it already has a presence with a near R2bn acquisition plan in Morocco.

The Cape Town-based group said on Monday that its subsidiary, SAN JV, will increase its direct and indirect stake in Saham Assurance Maroc, a leading property and casualty insurer, to 84.5%...

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