Santam Ltd (JSE:SNT) proposed a bid to acquire insurance unit from MTN South Africa on March 3, 2023. On March 15, 2023, Santam Ltd entered into an agreement to acquire insurance unit from MTN South Africa. The Competition Tribunal has approved the proposed transaction. the transaction remains subject to the fulfilment of various conditions, including regulatory approvals which are expected to be fulfilled within the next 12 months.

Santam Ltd (JSE:SNT) completed the acquisition of insurance unit from MTN South Africa on December 1, 2023.