PARTNERING FOR SHARED VALUE - Inside Sanlam

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PARTNERING FOR SHARED VALUE - Inside Sanlam
JULY / AUGUST 2017

                                                              Savings Month: Scan to save, fashionably p15
                                                               The role of nation states in cyber attacks p18
                                                                   Meet our Group CEO Award winners p26
                                                                          Sanlam crowns PA of the Year p32
Magazine for WealthsmithsTM

                                  PARTNERING FOR
                                   SHARED VALUE

                                                                  Society

                                                              Government

                                                       External
                                                       partners

                                            Internal
                                            clusters

                              Senior and future leaders on
                              the power of joining forces p8
PARTNERING FOR SHARED VALUE - Inside Sanlam
July/August 2017
                                                                                                                                                                                                                                                                                top-line thinking
                                                                                                                                                                                                                                                                                                    Ian says
contents
                                                                                                     If you were to spoil
                                                                                                     yourself ... p24                                                                                                                                                                               ‘Let’s embrace the
                                                                                                                                                                                                                                                                                                    challenges that come our
                                                                                                                                                                                                                                                                                                    way and see them as
                                                                                                                                                                                                                                                                                                    opportunities to strengthen
                                                                                                                                                                                                                                                                                                    our partnerships.’
                                                                                                                                                                                                           JULY / AUGUST 2017

                                                                                                                                                                                   Savings Month: Scan to save, fashionably p15
                                                                                                                                                                                    The role of nation states in cyber attacks p18
                                                                                                                                                                                        Meet our Group CEO Award winners p26
                                                                                                                                                                                               Sanlam crowns PA of the Year p32
                                                                                                                     Magazine for WealthsmithsTM

                                                                                                                                                       PARTNERING FOR
                                                                                                                                                        SHARED VALUE

                                                                                                                                                                                       Society

                                                                                                                                                                                   Government

                                                                                                                                                                                                                                                                                                    T
news
                                                                                                                                                                            External
                                                                                                                                                                            partners

                                                                                                                                                                 Internal
                                                                                                                                                                 clusters

                                                                                                                                                                                                                                                                                                               he joint theme of the Senior Leadership

3 In short
                                                                                                                                                   Senior and future leaders on
                                                                                                                                                   the power of joining forces p8
                                                                                                                                                                                                                                                                                                               Conference and the Future Leaders Conference
                                                                                                                                                                                                                                                                                                               – ‘Partnering for shared value’ – encapsulates
What’s happening in the Group’s world and beyond                                                                OFC JulyAug v2.indd 1                                                                                  2017/07/31 3:46 PM

                                                                                                                                  This is the magazine                                                                                                                                                         what we’re about as a Group. In a challenging
                                                                                                                                  for Sanlam                                                                                                                                                        operating environment, our role is to create shared value
strategy                                                                                                                          staff members
                                                                                                                                  everywhere.
                                                                                                                                                                                                                                                                                                    through our partnerships, for example, our initiatives
                                                                                                                                                                                                                                                                                                    with government, municipalities and industry that aim to
8  Partnering for shared value                                                                                                    If you have news for
                                                                                                                                  us, send an email
                                                                                                                                                                                                                                                                                                    benefit the communities in which we operate.
Senior Leadership Conference and Future Leaders                                                                                                                                                                                                                                                        In addition, by partnering with companies in selected
                                                                                                                                  to insidesanlam@
Conference in Cape Town                                                                                                           sanlam.co.za.                                                                                                                                                     emerging and other markets we’re collaborating to

12    SEM conference                                                                                                              FOR SANLAM
                                                                                                                                                                                                                                                                                                    strengthen our competitive advantage and sustainability.
                                                                                                                                                                                                                                                                                                       A key driver of partnership is people, our most
Organic growth is a priority                                                                                                      Chief Executive:
                                                                                                                                  Sanlam Brand                                                                                                                                                      important asset, whose skills and concerted efforts are
13    Business transactions
                                                                                                                                  Yegs Ramiah
                                                                                                                                  Communications
                                                                                                                                  Consultant
                                                                                                                                                                                                                                                                                                    the source of our success. This is why reward is a pillar of
                                                                                                                                                                                                                                                                                                    our Employee Value Proposition – it’s our way of showing
Group completes acquisition of Kenya’s PineBridge
                                                    comment                                                                       Inga Bosch-Cloete
                                                                                                                                                                                                                                                                                                    our appreciation of exceptional performance.
14     Growing stronger
                                                                                                                                  Address: Sanlam Head
                                                                                                                                                                                                                                                                                                       The Group CEO Award is one of the ways in which we
                                                    24
                                                                                                                                  Office, 2 Strand Road,
                                                                                                                                  Bellville, South Africa
SPF is set to reach even greater heights                    What Wealthsmiths™ say                                                                                                                                                                                                                  do this. The achievements of this year’s winners reflect
                                                    … if they were to spoil themselves                                                                                                                                                                                                              their diligence, but above all highlight their positive
                                                                                                                                  FOR NEW MEDIA
                                                                                                                                  PUBLISHING                                                                                                                                                        contribution to the Group.

brand
                                                                                                                                  Editor-in-Chief

                                                    people                                                                        Trudie Myburgh
                                                                                                                                                                                                                                                                                                       The prestigious PA of the Year Award was also
                                                                                                                                  Content Producer                                                                                                                                                  presented recently to Michelle Knoetzen. The role of

15                                                  26
                                                                                                                                  Karin Burger
                                                                                                                                  Editorial                                                                                                                                                         a PA is another example of how integral partnering is to
        Saving has never looked this good                  Group CEO winners honoured                                             Pieter Vermaak,                                                                                                                                                   business success, because it is often their supportive role
Sanlam launches a fashion accessory with            Meet the winners of Sanlam’s most                                             Aviva Singer,
a difference to tackle SA’s low savings rates                                                                                     Marga Scheffler,                                                                                                                                                  that fosters internal and external collaboration.
                                                    prestigious award                                                             Una Nieuwoudt,                                                                                                                                                       We’re grateful for these winners’ hard work and
16      Five heirs, a bank vault and two            29    SSUF
                                                                                                                                  Ami Kapilevich
                                                                                                                                  Design
                                                                                                                                  Christopher Evans,
                                                                                                                                                                                                                                                                                                    outstanding performances. Once again, thank you and
                                                                                                                                                                                                                                                                                                    congratulations!
fortunes squandered                                 Why preserving your retirement savings                                        Nita Nagar
Real-life simulation by Sanlam Private Wealth       makes sense                                                                   Group Account Director
                                                                                                                                  Tinnette Fourie
gives clients a reality check                                                                                                                                                                                                                                                                       Embracing challenges
                                                    30     Exposing career opportunities
                                                                                                                                  Group Creative Director
                                                                                                                                  Crispian Brown
                                                                                                                                  Head: Internal
                                                                                                                                                                                                                                                                                                    Despite consumer, business and investor confidence
                                                    Sanlam partners with staff member’s foundation                                Communications                                                                                                                                                    being low, we need to remain true to the Sanlam Way and
                                                    to host career expos for learners
technology                                                                                                                        Brendan Cooper                                                                                                                                                    continue to be optimistic about the future of our country

                                                    32
                                                                                                                                  Director:
                                                                                                                                  Content Strategy                                                                                                                                                  and the continent. Let’s embrace the challenges that
18     Online safety
                                                           At the front line
                                                    Meet the PA of the Year winner and finalists
                                                                                                                                  Andrew Nunneley
                                                                                                                                  Printer
                                                                                                                                  Shumani Mills
                                                                                                                                                                                                                                                                                                    may come our way and see them as an opportunity to
                                                                                                                                                                                                                                                                                                    strengthen our partnerships, as they’re essential factors
Cyber risk: war, crime, hacking or what?
                                                    34    Financial skills
                                                                                                                                  Communications
                                                                                                                                  Published for Sanlam by
                                                                                                                                  New Media Publishing,
                                                                                                                                                                                                                                                                                                    in future success and beneficial to all stakeholders, both
                                                                                                                                                                                                                                                                                                    internally and externally.
                                                    How to prioritise debt and savings
thought leadership                                                                                                                19 Bree Street,
                                                                                                                                                                                                                                            Images: Getty Images and supplied

                                                    35                                                                            Cape Town                                                                                                                                                            Finally, good luck to all those who’ve entered

20                                                         Personal skills                                                        Telephone 021 417 1111                                                                                                                                            next month’s Sanlam Cape Town Marathon. If you
        An outlook on the emerging markets          Three steps to successful multitasking                                                                                                                                                                                                          weren’t able to do so, I urge you to support our fellow
What makes Africa and other emerging markets
so attractive                                       36 Out and about                                                                                                                                                                                                                                Wealthsmiths™ and all the other runners at the Sanlam
                                                                                                                                                                                                                                                                                                    supporter zones.
                                                    See who was where and why

22    Why corporates must act on education
How numeracy and literacy helps combat poverty
                                                    40    The back page
                                                    #ThelmaLeaks from the Dark Side

                                                                                                                                                                                                                                                                                                                                         Inside Sanlam | July/August 2017   1
PARTNERING FOR SHARED VALUE - Inside Sanlam
App of the Month
                                                                                                                                                                          WeDo is a task management app

                                                    news
                                                                                                                                                                          that focuses on groups (although
                                                                                                                                                                          you can also use it alone too).
                                                                                                                                                                          Create groups, invite people to
                                                                                                                                                                          join, and group members can then
                                                                                                                                                                          create tasks everyone can see.
                                                                                                                                                                             It’s great for small businesses
                                                                                                                                                                          and families. It features reminders
                                                                                                                                                                          and subtasks, and you can create
                                                                                                                                                                          recurring tasks.
                                                                                                                                                                             It’s free in the Google Play
                                                                                                                                                                          Store and Apple App Store.

Your Mna Nam card with embedded QR code is
included in this issue of Inside Sanlam. Find out
    how to scan and save on pages 15–16.            Sanlam Cape Town Marathon

                                                    Africa strikes Gold                                                                                                              Gold
                                                    The annual Sanlam Cape Town Marathon, which takes                Neethling, footballers Lucas Radebe and Mark Fish and
                                                    place on 16 and 17 September this year, is more than             rugby player John Smit, who will raise awareness about          standards
                                                    just a race. As of this year, it’s Africa’s only International   healthy lifestyles while raising money for charity.             ‘Going for gold’ has
                                                                                                                                                                                     been one of the
                                                    Association of Athletics Federations (IAAF) Gold Label              Last year’s winner, Asefa Mengstu Negewo of                  marathon’s key goals
                                                    marathon and a certified carbon-neutral event.                   Ethiopia, will also be back to defend his title – wearing       since its relaunch
                                                                                                                                                                                     in 2014. To achieve
                                                       ‘This year we turn everything into gold,’ says André          Sanlam-branded gear. In 2016 he shattered the long-
                                                                                                                                                                                     Gold certification in
                                                    Kearns, Sponsorship Manager: Group Brand.                        standing South African all-comers record in the                 2017, race organisers
                                                       The marathon is part of a weekend festival of running,        marathon when he clocked 2:08:42.                               had to meet a host
                                                                                                                                                                                     of requirements in
                                                    at which Sanlam’s business units will host a total of 300           By taking up the RunGreen pledge, participants can           terms of:
                                                    clients and special guests. ‘We urge staff members to            play an active role in environmental initiatives.               • Attractiveness
                                                    bring their supporters along to the Sanlam supporter                The campaign urges runners not to litter, to take            • Marketing
                                                                                                                                                                                     • Athlete line-up
                                                    zones. We want all Wealthsmiths™ to jump in and                  along water in a reusable bottle, throw their waste in the      • Technical issues
                                                    support our provisional 23 000 runners.’                         ‘chuck zones’ along the route, respect the environment            related to times
                                                                                                                                                                                       and results, route
                                                       A number of well-known faces will be on the route,            by running for nature, measure and offset their carbon
                                                                                                                                                                                       measurements,
                                                    with race ambassador and rugby icon Francois Pienaar             footprint, and support broader carbon-neutral projects.           water stations,
                                                    rounding up a host of former national sports captains and        Runners can also support the Greenpop tree-planting               road closures,
                                                                                                                                                                                       medical services
                                                    representatives to take part in the Captain’s Challenge.         project via the entry system.                                     and doping
                                                    They include netballer Zanele Mdodana, swimmer Ryk                  Enter the SCTM at www.sanlamcapetownmarathon.com.              requirements.

                                                                                                                                                                     Inside Sanlam | July/August 2017           3
PARTNERING FOR SHARED VALUE - Inside Sanlam
news                                                                                                                                                                                                                                Shriram Transport

                                                                                                                                                                                                                                        Umesh among
                                                                                                                                                                                                                                        India’s 100 most
                                                                                                                                                                                                                                        trusted CEOs
                                                                                                                                                                                                                                        Umesh Revankar, MD of Shriram Transport
                                                                                                                                                                                                                                        Finance Company (STFC), was named one of the
                                                                                                                                                                                                                                        ‘100 Most Trusted CEOs of 2017’ by Asia’s leading
                                                                                                                                                                                                                                        consulting firm, World Consultancy & Research
                                                                                         Sanlam Sky Solutions                                                                                                                           Corporation.

                                                                                         Karl is new CE
                                                                                                                                                                                                                                           At an awards ceremony held in Delhi, Umesh
                                                                                                                                                                                                                                        was recognised for his leadership in creating
                                                                                         Karl Socikwa has been appointed as the new Chief                                                                                               a sustainable business model for STFC, under which
                                                                                         Executive of Sanlam Sky Solutions.                                                                                                             the company pioneered the organised pre-owned
                                                                                           Until his appointment at Sanlam he was CEO of                                                                                                commercial vehicle (CV) financing market in India
                                                                                         Transnet Port Terminals, a multibillion-rand business                                                                                          and grew into the largest CV financier in the country.
                                                                                         with about 9 000 employees.                                                                                                                       After more than three decades in this business
                                                                                           Karl is a qualified attorney, having started his                                                                                             STFC has created a strong and sustainable
    Sanlam UK                                                                            working career at Deneys Reitz Attorneys, now                                                                                                  competitive advantage. The company has

    Pedals for charity
                                                                                         Norton Rose Fulbright. In his 22 years at Transnet,                                                                                            developed a deep understanding of the borrower
                                                                 Jonathan Polin,
                                                                 CEO of Sanlam UK.       he held numerous senior positions, including                                                                                                   profile and its credit behaviour by building
    Staff members in the UK are in training for the ‘Great                               Chief Executive of Transtel and Group Executive                                                                                                a scalable operating model, doing extensive
    Sanlam Cycling Challenge’ in support of CASCAID, the                                 (Commercial). He had served as CEO for seven years.                                                                                            research, and having strong valuation capabilities
    asset management industry’s initiative to raise more                                   Karl has also sat on various company boards,                                                                                                 regarding pre-owned vehicles.
    than £1 million for Cancer Research in 2017.                                         including a nine-year tenure at Investec Bank Limited.        Journey of Water
                                                                                                                                                                                                                                        ‘I’m honoured to
                                                                                                                                                       From source to tap
       Over the summer Sanlam UK will be initiating a number
                                                                                                                                                                                                                  The group that took
    of events to raise money for the cause, including bake                               Sanlam Emerging Markets: Cup of Nations                                                                                  part in this year’s   receive this award,
                                                                                         Two claim victory
    sales, sponsored walks, growing beards and making                                                                                                  Participants in the 2017 Journey of Water once again       Journey of Water.
    cocktails.                                                                                                                                         walked through some of SA’s water source areas to raise                          which confirms
       Jonathan Polin, Group CEO: Sanlam UK, will lead the                               Two worthy overall winners in the 2016 SEM Cup of             awareness of threats to water security.                                          that we’re on
    cycling team, which will cycle 1 368km across the UK to                              Nations competition were announced at a cocktail                 The walk is an initiative by the World Wide Fund for
                                                                                                                                                                                                                                        the right path to
    visit the regional offices.                                                          function held during the recent SEM Conference in             Nature (WWF-SA) in partnership with Sanlam.
                                                                                         Cape Town.                                                       With eight of SA’s nine provinces declared disaster                           success. It’s a
    Video conferencing                                                                      Congratulations to FBNInsurance in Nigeria and             zones due to the drought in 2016, the effects of water                           testament to the
    Let’s connect                                                                        Sanlam Life Insurance in Uganda for coming out                stress are being felt like never before.
                                                                                         tops by showing exceptional performance amid                     ‘Our strategic partnership with WWF-SA helps us to
                                                                                                                                                                                                                                        hard work that’s
    Wealthsmiths™ will have full use of the new audio- and                               a challenging economic environment.                           contribute to water conservation efforts and encourage                           gone into STFC
    video-conferencing (AC/VC) solution within Sanlam by                                    This year’s competition deviated from those of             greater awareness of the water scarcity challenges                               building a strong
    end-July, giving them the tools to collaborate internally                            previous years, focusing on overall performance               facing our country – to the long-term benefit of all
    and externally with anyone, any time, any place.                                     instead of performance per category. After reviewing          South Africans,’ says Portia Bangerezako, Head of Group
                                                                                                                                                                                                                                        CV financing
       The solution includes sharing of content across                                   the performance of all SEM’s companies across the             Sustainability and one of the Wealthsmiths™ who took                             market in India.’                          India
    desktop, mobile and web clients. The solution lets you                               various categories, FBNInsurance and Sanlam Life              part in the walk from Mabola to Pongola in Mpumalanga.
    connect seamlessly in huddle spaces, conference rooms                                Insurance in Uganda stood out in terms of their                  The group of walkers, which also included celebrities                         About Shriram                        • Mumbai
    and boardrooms as well as airports, or any location with                             consistent performance                                        and members of the media, started the three-day walk in
    internet connectivity, says Theo Mabaso, Head: End User                              over at least the past two
                                                                                                                            Flanking Junior Ngulube,
                                                                                                                                                       the Mpumalanga grasslands.
                                                                                                                                                                                                                                        Transport Finance
    Collaboration Solutions at ITISS.                                                    years. Both exceeded their
                                                                                                                            CEO of SEM, are
                                                                                                                            John Lintari, CEO of          ‘On day 1 we visited the Mabola water reserve,                                Company
       The solution upgrade enables clients to schedule                                  budgets, retained profits and      Sanlam Life Insurance      which is in a protected environment,’ says Botsepegi                             STFC is the flagship company
                                                                                                                            Ugand (left), and Val
    a meeting using Outlook calendaring. Joining a meeting                               achieved top- and bottom-line      Ojumah, MD and CEO of      Motau, Manager: Product System & Training Department                             of the Shriram Group, which
    is as simple as pushing a button in a room or connecting                             outperformance.                    FBNInsurance in Nigeria.   at Santam. ‘There we drank water directly from a                                 has a significant presence
    from your personal device, he says.                                                                                                                natural stream.’                                                                 in consumer finance, life               1979
                                                                 ‘Video conferencing                                                                                                                                                                                        STFC established in
       ‘The process for connecting to a VC has also been                                                                                                  On day 2 the group saw the filth and poison an                                insurance, general insurance,            Mumbai
                                                                 is the ideal tool
    made simpler and more user friendly.’                        to help cut travel                                                                    abandoned mine releases into the surrounding water                               stock broking and distribution
       Training is being provided at Head Office in Bellville    costs, as interactive
                                                                 training and content,
                                                                                                                                                       sources. ‘We ended the day at Bivane Dam, canoeing to                            businesses. It’s India’s largest         918
    and Alice Lane to high VC users, VIP users, Gijima                                                                                                 our evening accommodation,’ she says.                                            asset-financing, non-banking          branch offices
                                                                 including videos,
    support staff in the regions, PAs and room owners. The       can be provided                                                                          Day 3 started with a live broadcast from Bivane Dam                           financial company and a
    remaining users will receive a link to the training guide,   across geographies.’                                                                  by SABC2’s Morning Live. ‘We then travelled to Madaka                            holistic finance provider for the   R158 billion
                                                                 – Theo Mabaso                                                                                                                                                                                                value of assets
    with Gijima support available if required.                                                                                                         Game Ranch, where we witnessed the devastating                                   commercial vehicle industry.             managed
       The first phase, completed last year, was to refurbish                                                                                          impact of soil erosion on our water catchments.’                                 It seeks to partner with small
    the backbone technology in the existing VC workspaces                                                                                                 The Journey of Water was an enlightening experience,                          truck owners for every possible     1,45 million+
    or rooms. The current phase provides more reliable and                                                                                             Botsepegi says. ‘It showed me I’m ignorant as well as                            need related to their assets.           customers
    richer video technology.                                                                                                                           unaware of sustainability issues.’

4                                                                                                                                                                                                                                                             Inside Sanlam | July/August 2017    5
PARTNERING FOR SHARED VALUE - Inside Sanlam
news

                                                                                                                                                                                                                                                   you said

                                                                                                                                                     Claims process solution

                                                                                                                                                     SMDP innovates with                                                                    In the build-up to
                                                                                                                                                                                                                                            Sanlam’s centenary,
                                                                                                                                                     Sanlam Kenya                                                The 2016 SMDP
                                                                                                                                                                                                                 graduates are (from        we asked staff
                                                                                                                                                     A syndicate team from the 2016 Sanlam/Santam Senior         left) Jennifer Mears of
                                                                                                                                                     Management Development Programme (SMDP) recently            Sanlam Investments
                                                                                                                                                                                                                 Marketing, Zareena
                                                                                                                                                                                                                                            members what
                                                                                                                                                     presented their three-phased digital solution to Sanlam
                                                                                                                                                     General Insurance in Kenya.
                                                                                                                                                                                                                 Nackerdien of Glacier
                                                                                                                                                                                                                 Finance, Riaan van Wyk
                                                                                                                                                                                                                                            makes them proud
                                                                                                                                                        The solution is intended to transform the end-to-end     of Santam Complex
                                                                                                                                                                                                                 Claims and Eugene
                                                                                                                                                                                                                                            to be Wealthsmiths™.
                                                                                                                                                     claims processes for Sanlam’s short-term insurance          Moodley of Glacier IT.
                                                                                                                                                     business in East Africa, using digital disruption to        The group’s sponsor was    The company’s open-
                                                                                                                                                                                                                 Johan van der Sandt,
                                                                                                                                                     differentiate the client experience. This will support      Head: General Insurance    door policy – we as staff
                                                                                                                                                     Sanlam General Insurance Kenya’s strategy to become         West and East Africa
                                                                                                                                                                                                                 at Sanlam Emerging
                                                                                                                                                                                                                                            members can engage with
                                                                                                                                                     a market leader in East Africa.
    Financial Journalist                                                           Sanlam Trust                                                         To achieve this, the team recommended putting in
                                                                                                                                                                                                                 Markets.                   management and share our

    Investigative                                                                  New online will is                                                                                                                                       ideas. It’s nice to have access
                                                       The 2016 Sanlam                                                                               place a three-phased implementation plan, including
                                                       Financial Journalist
                                                       of the Year, Susan
                                                                                                                                                     a new digital platform, and automating the claims           Feedback                   to executives because it
    journalism                                                                     simple and efficient
                                                       Comrie of City Press/                                                                         processes to ensure swift, prompt payouts.                  The team said it was
                                                       amaBhungane Centre for                                                                           The solution came in the wake of the SMDP team’s         ‘a massive privilege’ to   assists us in providing a
                                                                                                                                                                                                                 be invited to present

    awarded
                                                       Investigative Journalism,
                                                       with Peter Vundla,
                                                                                   Users of the Sanlam Trust website can now complete                year-long research, which referred to a ‘massive digital    their business strategy    worthy Sanlam experience
                                                                                   a simple online form that drafts a basic will and emails it to    wave’ transforming the short-term insurance and             to their Kenyan
    Susan Comrie of the amaBhungane Centre for
                                                       convenor of the panel of
                                                       adjudicators, and Yegs      them. They can then print it out and sign it there and then.      automotive industry through the internet of things,
                                                                                                                                                                                                                 counterparts in Nairobi,   for our stakeholders, helping
                                                                                                                                                                                                                 having spent a full year
    Investigative Journalism has been named the        Ramiah, Chief Executive:
                                                       Sanlam Brand.
                                                                                      ‘Previously a user could complete an online form that          telematics and the ‘2030 digital revolution’.               analysing the business.    them to discover their
    2016 Sanlam Financial Journalist of the Year.                                  was first submitted to Sanlam Trust,’ says Ann Nel, Head:                                                                                                purpose in life.
       Her exceptional investigative work in                                       Will Operations at Sanlam Trust Will Services. ‘Sanlam            Sanlam Sky Solutions

                                                                                                                                                     Dramatic WhatsApp                                                                      Masixole Lisana
    uncovering incidents of corruption and state                                   Trust would then draft the will and send it to the client
    capture as well as money laundering allegations                                to sign. The client would sign it and send it back to                                                                                                    Senior Fund Accountant:

                                                                                                                                                     series a first                                                                         Sanlam Employee
    had a powerful impact on SA’s national                                         Sanlam for safekeeping.
    narrative.                                                                        ‘This self-help will can result in improved efficiencies for                                                                                          Benefits, Centurion
       Susan is also a former winner of the CNN                                    Sanlam Trust,’ Ann explains. ‘Simple wills no longer have to      Sanlam’s groundbreaking drama series Uk’shona Kwelanga
    African Journalism Award, a Taco Kuiper                                        be drafted by Sanlam Trust, freeing up capacity to focus          – which could be translated as ‘The Sunset’ or ‘The Death
                                                                                                                                                                                                                                            The lovely environment and
    Award (runner-up) and the National Press Club                                  on more complex wills, trust and estate management.’              of Langa’ – was a collaboration with top scriptwriter and
    Journalist of the Year Award.                                                     The introduction of the new, simplified online                 playwright Bongi Ndaba and some of SA’s top actors.                                    the awesome people I work
       ‘At a time when South Africa faces a myriad
                                                       The Sanlam                  will comes shortly after the launch of Go Cover, a                   But unlike a TV series, it was told through the                                     with. I haven’t been with the
    of challenges, the role of financial journalists                               revolutionary on-demand, accidental injury and death              medium of WhatsApp in texts, photos, voice notes
    in particular is important in supporting the       Awards for                  cover app. Other online products include tax-free                 and video. Uk’shona Kwelanga, which ran from 5 June
                                                                                                                                                                                                                                            company very long, and the
    country in the efforts to build the sustainable    Excellence                  investments, online retirement annuity, gap cover,                to mid-July, related the tale of an SA family struggling                               welcome so far has been
    and inclusive growth for which we must all         in Financial                funeral cover and unit trusts.                                    with the emotional and financial ramifications of loss                                 amazing. Everybody
    strive,’ says Yegs Ramiah, Chief Executive:                                       ‘The simplified online will further enhances our               while planning their father’s funeral. It was filmed and
    Sanlam Brand.
                                                       Journalism                  industry-leading suite of user-friendly digital products,’        photographed in May on location in Klipspruit, Soweto.
                                                                                                                                                                                                                                              is helpful.
       ‘Reporters have worked tirelessly to bring us   were                        says Jack Kruger, Head of Digital                                    ‘The idea was to educate people in an experiential                                     Ayanda Khoza
    the key stories and backstories in a time where    established                 and Design. ‘In the short period                                  and accessible way,’ says Tendani Matshisevhe,                                             Portfolio Manager Assistant:
    South Africa found itself in deep turmoil in       42 years ago                since launch, the offering already        How it                  Marketing Manager: Sanlam Sky Solutions. ‘We                                                 Sanlam Private Wealth,
    2016, socially, politically and economically.
       ‘While the country is currently consumed
                                                       as a platform               occupies the leading online
                                                                                   search position in its category.’
                                                                                                                             works                   wanted it to be as lifelike as possible – also showing
                                                                                                                                                     cultural issues of deciding where to lay a loved
                                                                                                                                                                                                                                                  Cape Town
                                                                                                                              • Select your type
    with the revelations that have surfaced from       to recognise                   Clients who choose Sanlam                 of will – single     one to rest, observing rituals and balancing the
                                                                                                                                or joint
    the leaked emails that seem to connect             and celebrate               Trust to act as the expert                 • Select an            demands of the modern world and tradition.’
    the dots, when all is said and done, we’re
    dependent on financial journalists to report
                                                       excellence                  executor of their estate will pay
                                                                                   a nominal annual fee of R57 to
                                                                                                                                executor
                                                                                                                              • Complete, print
                                                                                                                                                        Every episode showed the necessity of a funeral
                                                                                                                                                     scheme that pays out claims quickly so the family
    on the implications for the country’s economy      in financial                cover administration costs and
                                                                                                                                and sign your
                                                                                                                                will.                can focus on what’s important – celebrating the life
    and on all of us.’                                 journalism.                 safekeeping of the will in a vault.                               of their loved one.

6                                                                                                                                                                                                                                                  Inside Sanlam | July/August 2017   7
PARTNERING FOR SHARED VALUE - Inside Sanlam
strategy   / future & senior leaders
                                                                                                      ‘Our future success depends on how well we                the changes in our operating environment. Our
                                                                                                    partner internally. Businesses need to find value           successful partnerships with Ubuntu-Botho (UB)
                                                                                                    when they collaborate. The most important question          and more specifically, African Rainbow Capital
                                                                                                    facing us is how to make our business sustainable.’         (ARC), are key in our lives. We have a history of
                                                                                                                                                                success, and we’re planning to do more with ARC            The theme of the Sanlam
                                                                                                                                                                                                                           Leadership Conferences
                                                                                                    The role of business in society                             over the longer term.’
                                                                                                                                                                                                                              and CEO Awards
                                                                                                    ‘Internationally, we’ve seen that rising inequality                                                                      was ‘Partnering for
                                                                                                    coupled with populist politics will negatively affect the   Creating value for society                                      shared value’.
                                                                                                    operating environment, as it mostly has destabilising       ‘Our 50/50 partnership with UB through the
                                                                                                    effects. In South Africa we’ve heard similar debates.       Sanlam Foundation is key in delivering results
                                                                                                    While we continue to grapple with key societal              within the foundation.                                        Senior Leadership
                                                                                                                                                                                                                                 Conference
                                                                                                    debates, we must address these issues constructively.          ‘All our businesses across our footprint should be
                                                                                                       ‘The role of business is to help find solutions to       encouraged to strike partnerships – internally with
                                                                                                    these challenges. Business looks at them differently, in
                                                                                                    terms of commercial viability, so it tends to be more
                                                                                                                                                                colleagues across the Group, but also externally
                                                                                                                                                                with local or regional entities.
                                                                                                                                                                                                                                 360
                                                                                                                                                                                                                          Wealthsmiths™

     Partnering for
                                                                                                    aware of how sustainable the potential solutions are.          ‘We need to positively influence our operating
                                                                                                       ‘We’ve been in a terribly turbulent time now for
                                                                                                    about 18 months. We have to look ahead at ways to
                                                                                                                                                                environment, driving inclusive growth, particularly
                                                                                                                                                                in South Africa, as well as job creation to grow the               11
                                                                                                    positively impact our operating environment.                economy.’                                                      countries
                                                                                                       ‘We’ve achieved limited transformation success in

           shared value
                                                                                                    SA to address the inequality gap. The widespread            Outlook for 2017
                                                                                                    corruption in the public sector, with private sector        ‘The economic growth conditions will remain               Future Leaders Conference
                                                                                                    involvement, has significant destabilising effects.         challenging. Consumer confidence, business
                                                                                                       ‘We’ve been very supportive of the CEO Initiative,
                                                                                                    a key mechanism to favourably influence the
                                                                                                                                                                confidence and investor confidence is at a low,
                                                                                                                                                                and we expect the investment market volatility                   260
                                                                                                    operating environment. New terms of reference               to persist in the uncertain environment.                       young
                                           This year’s Senior Leadership                            have to be agreed with our partners in labour and             ‘We remain realistically optimistic about the
                                           Conference hosted                                        government following the March Cabinet reshuffle.           medium-term future of SA and excited about the              professionals
                                           360 Wealthsmiths™ from
                                                                                                       ‘As a business we have to acknowledge the
                                                                                                    strength of partnerships and how this is integral to
                                                                                                                                                                medium- to long-term opportunity on the continent.
                                                                                                                                                                  ‘We’re well positioned for future growth.’                         9
                                           11 countries, while 260 young                            the future success of our business.’                                                                                       countries
                                           professionals from nine countries
                                                                                                    Partnership model
                                           attended the Future Leaders                              ‘SEM’s partnership model has been a cornerstone of          ‘We have to acknowledge the
                                           Conference. Both events took place                       its success over the past decade. The key question          strength of partnerships and
                                                                                                    is how we leverage this to other parts of the Group.
                                           in Cape Town. Several internal and                                                                                   how this is integral to the                                The SA Youth Choir
                                                                                                       ‘In the emerging markets space, we have to look at                                                                  performed at the Senior
                                           guest speakers shared insights into                      our two key partnerships to drive future value: Saham       future success of our business.’                           Leadership Conference.
                                           ensuring Sanlam’s future success.                        Finances and Shriram Capital. Strong governance
                                                                                                    has to support our various partnering initiatives.’

                                                                                                    Internal collaboration
                                           Ian Kirk,                                                ‘Internal partnering [collaboration] is the best
                                           Group CEO                                                way to strengthen our competitive position. For
                                                                                                    instance, we could combine the strengths of
                                           Partnering is key to future success                      a number of businesses, across clusters, to offer
                                           ‘If we want to achieve our growth objectives,            clients an enhanced value proposition and increase
                                           we have to anticipate the shifts impacting our           our chances of success – something that’s to the
                                           operating environment. We should broaden and             benefit of our clients and the businesses.
                                           leverage our partnerships to influence the operating        ‘Internally, three initiatives are key to our success
                                           environment favourably for all our stakeholders.         over the medium term: Sanlam Corporate, Business
                                           This is a key mechanism we have at our disposal.         Intelligence and the Central Credit Manager.’
                                               ‘We’re partnering on two levels: externally across
                                           different industries to influence the operating          Empowerment
                                           environment, and internally across all the clusters to   ‘For our SA businesses, which release capital
                                           strengthen our competitive position as a diversified     for our international growth initiatives, we have
                                           financial services group.                                to consider our empowerment position given

8                                                                                                                                                                                                                Inside Sanlam | July/August 2017     9
PARTNERING FOR SHARED VALUE - Inside Sanlam
strategy   / future & senior leaders
                                              Partnering for shared value                                                                      Heinie Werth, Financial Director                                                        I believe in the resilience of the SA economy and

                                              Highlights
                                                                                                                                               About ARC: ‘We need an empowerment company                                              consumer. We will pull through it.
                                                                                                                                               to be relevant in future and to keep us one step                                           ‘We want to really grow the business with key
                                                                                                                                               ahead of the [BEE] scorecard.                                                           partnerships like BrightRock, Sanlam Reality and
                                                                                                                                                  ‘ARC is an independent business, not                                                 others. Focus and execution are key. We need to
                                                                                                                                               an extension of Sanlam. The approach is                                                 be faster and more flexible going to market with
                                                                                                                                               complementary, not competitive. It’s another tool          With Sanlam having           new products. For millennials specifically, we
                                                                                                                                                                                                            a footprint across
                                                                                                                                               in our toolbox to stay relevant and it’s important to     34 countries in Africa,       want to make it as easy as possible for them to
                                              Mark Murning,                                                                                    make the partnership with UB/ARC work.’                      and a significant          do business with us.’
                                              CEO: Sanlam Capital Markets                                                                                                                                presence in India and
                                              ‘If it’s a good idea and you collaborate, the idea gets                                          Junior Ngulube,                                         Malaysia, a large number
                                                                                                                                                                                                           of delegates hailed         Yegs Ramiah,
                                              a momentum of its own.’                                                                          CEO: Sanlam Emerging Markets                             from Botswana, Kenya,          Chief Executive: Sanlam Brand
                                                                                                                                                                                                       Malawi, Namibia, Nigeria,
                                                                                                                                               ‘SEM’s business model is built entirely on                                              ‘Sanlam talks to the entire market. We want to help
                                              Lizé Lambrechts, CEO: Santam                                                                     partnerships [on the principle that] if you want
                                                                                                                                                                                                           Tanzania, Uganda,
                                                                                                                                                                                                            United Kingdom,            people live their best possible lives and do it in
                                              ‘Santam is much more than South Africa’s leading                                                 to go fast, go alone; if you want to go far, go with       Zambia, Zimbabwe             a world worth living in.
                                                                                                                                                                                                            and South Africa.
                                              short-term insurer. We safeguard what’s important                                                a partner.                                                                                 ‘Societal issues are of fundamental importance
                                              to you. That’s why we exist.                                                                        ‘We don’t know everything, we need a local                                           to business, labour and government. We’re not only
                                                 ‘We deliver on our promises – we are here                                                     partner. That’s what makes this model work – that’s                                     looking at shareholders, but all stakeholders – how
                                              because we pay claims. And we take our                                                           true partnership. Partnerships are built on mutual                                      to incorporate and acknowledge so many other
                                              sustainability responsibility seriously.                                                         respect. We leave our partners to run the business,                                     parties who have rights. We have to understand
                                                 ‘We provide our clients with insurance that adds                                              only providing support in 38 countries and                                              what those rights are and what the outcomes
                                              value, paying more than R16,1 billion in claims in the                                           90 businesses with 80 000 employees.                                                    will be. Considering other voices and rights is the
                                              past year, keeping them safe and rewarding them                                                     ‘Now that we have the footprint, our focus must                                      only way we can be sustainable for the future.
                                              for staying safe.                                                                                be on organic growth. Our goals are to:                                                    ‘We need to encourage a culture of critical
        ‘We don’t know                           ‘Eighty-six of the top 100 JSE-listed companies                                               • contribute 25% of the Group’s profits by 2018                                         thinking, question why we do things and learn from
        everything, we                        trust us to protect their businesses.                                                            • be in the top three in our chosen markets or niche                                    each other. We should have an outside-in approach
                                                 ‘Sanlam contributed R1 million to relief operations                                             segments                                                                              to clearly understand clients’ needs and then make
        need a local
                                              after the recent fires in Knysna. More than 22 000                                               • be the go-to partner for corporates and                                               solutions for them.
        partner. That’s                       people from communities around the country have                                                    multinationals.’                                                                         ‘Shared value has to be about job creation and
        what makes                            participated in our fire-awareness programme.                                                                                                                                            impacting the society we live in. We have the right
                                                 ‘We’re partnering with 10 districts to reduce the                                             Internal partners                                                                       foundation – it’s more about our approach and how
        this model work                       risks from fire and flooding. Our pilot project of                                               ‘Internally, we draw on colleagues’ expertise as                                        we do it.
        – that’s true                         installing 1 000 smoke detectors has now expanded                                                a key source of technical support – it has to be                                           ‘We want to raise shared value by investing

                                                                                                        Images: Jéan du Plessis and supplied
        partnership.                          to include more informal settlements.                                                            a win‑win situation for all parties.’                                                   in education. It starts with one – if we can make
                                                 ‘We need to focus on value creation as part of                                                                                                        1 From left are financial       a difference to one person, we’ll make a difference
        Junior Ngulube
                                              a broader ecosystem. We must manage risk and                                                     Jurie Strydom,                                          journalist Bruce
                                                                                                                                                                                                       Whitfield, Junior Ngulube
                                                                                                                                                                                                                                       in SA.
                                              disruption and enhance societal acceptance to                                                    CEO: Sanlam Personal Finance                            and Temba Mvusi.
                                                                                                                                                                                                                                          ‘Our brand and what it stands for resonates with
                                              remain relevant and sustainable as an organisation                                               ‘We’re in difficult times in the SA economy. As         2 The Senior Leadership         people. The new measure for brand is how people
                                              for another 100 years.                                                                           a South African business, SPF should make sure          Conference was attended         experience us – where they see us, what they see us
                                                                                                                                                                                                       by 360 Wealthsmiths™.
                                                 ‘Internally we fully support the omni-channel                                                 it remains client focused, offering client value        3 Lizé Lambrechts               doing, what we support as a brand and whether we’re
                                              approach.’                                                                                       and staying true to the disciplines of our business.    shares her views.               there to make a difference.’ (continued overleaf)

                                            1 2                                                                                                                                                                                    3

10                                                                                                                                                                                                                                                         Inside Sanlam | July/August 2017   11
PARTNERING FOR SHARED VALUE - Inside Sanlam
strategy   / future & senior leaders                                                                                                                                                                                                                                                                               transactions         / strategy
      Grant Davids,
      Insurance Analyst at Nedbank Capital
      ‘In 2005 Sanlam wasn’t a clear leader in any area                                                                                                                                                      PineBridge acquisition completed
                                                                                                                                                                                                                                                         A
      and was ignored by its peers. Today Sanlam is seen
      as a top player in all segments and products and                                                                                                                                                       Sanlam, through Sanlam                                 s a leading asset                                      At the media announcement
      the focal point of peer attacks.                                                                                                                                                                                                                              management                                          on 13 July, Junior Ngulube, CEO
         ‘Winners will open new markets not reached                                                                                                                                                          Emerging Markets (SEM), has                            company in East                                     of SEM, said the conclusion of
      by current products, their distribution will appeal                                                                                                                                                    received regulatory approval                           Africa with almost                                  the acquisition paves the way
      to the younger generation and they’ll cater for                                                                                                                                                                                                    18 years’ experience in the                                    for the Group to integrate its
                                                                                                                                                                                                             to conclude its acquisition
      the wider market. Winners should be able to                                                                                                                                                                                                        investment sector in Kenya and                                 asset management businesses in
      tailor products.                                                                                                                                                                                       of PineBridge Investments                   Uganda, the newly branded                                      Kenya and East Africa through
         ‘Distribution is key, [requiring] low-cost                                                                                                                                                          East Africa Limited (PIEAL) in              SIEAL strengthens the Sanlam                                   Sanlam Investments Kenya
      distribution models and increased partnerships.                   2                                                                                                                                                                                Group’s presence in the East        Jonathan Stichbury         and SIEAL.
                                                                                                                                                                                                             Kenya, which simultaneously                                                     (left), CEO of Sanlam

                                                                            Focus on organic
      Clients want to be able to interact with an insurer                                                                                                                                                                                                African investment market.          Investments East Africa,      ‘The integration of SIEAL
      as quickly and easily as they do with digital                                                                                                                                                          rebranded to Sanlam                            Jonathan Stichbury, CEO of       shares a light moment      into the rest of the Sanlam
                                                                                                                                                                                                                                                                                             with Junior Ngulube,
      technology.’                                                                                                                                                                                           Investments East Africa                     PIEAL up until now, will continue
                                                                                                                                                                                                                                                                                             CEO of SEM, during
                                                                                                                                                                                                                                                                                                                        Group and its subsequent

                                                                            growth at
                                                                                                                                                                                                                                                         to lead the company under its                                  rebrand will strengthen our
      Robert Roux,                                                                                                                                                                                           Limited (SIEAL) Kenya.                      new name and brand.
                                                                                                                                                                                                                                                                                             the press conference
                                                                                                                                                                                                                                                                                             on 13 July.                profile and cement our position
      CEO: Sanlam Investments                                                                                                                                                                                                                                                                                           in institutional, affluent and
      ‘In a corporate, the only real advantage is to                                                                                                                                                                                                                                                                    retail investment management
      share value. That’s the leverage effect of great
      partnerships.
         ‘The purpose of SI is to nurture and grow
      our clients’ wealth while making a meaningful
                                                                            SEM Conference                                                                                                                                                                                                                              across East Africa.
                                                                                                                                                                                                                                                                                                                           ‘We’re excited about this and
                                                                                                                                                                                                                                                                                                                        look forward to a successful and
                                                                                                                                                                                                                                                                                                                        mutually beneficial partnership
      contribution to transformation, growth and
                                                                            CEOs and executives                    Ian Kirk, Group CEO                                                                                                                                                                                  between the Sanlam Group,
      development of our economy and society. Sanlam                        from Sanlam Emerging                   ‘Even though the economic environment                                                                                                                                                                represented by SEM, SIEAL, our
      can only be successful in a successful SA.’                           Markets’ business                      is challenging at the moment, SEM and                                                                                                                                                                clients and all our stakeholders
                                                                                                                   its partnerships form an important part of                                                                                                                                                           here in Kenya and across the
      Nersan Naidoo, CEO: Investment Core                                   partners gathered at the               the Sanlam Group.                                                                                                                                                                                    East Africa region,’ he said.
      ‘If business is doing well, it’s good for society and                 annual SEM Conference                     ‘With the Group’s pan-African vision,                                                                                                                                                                Junior concluded that the
      vice versa.’                                                                                                 there’s a significant focus on Africa                                                                                                                                                                acquisition brings together
                                                                            to share ideas, boost
                                                                                                                   as its future growth story remains                                                                                                                                                                   a combination of strengths
      Mcebisi Jonas,                                                        collaboration and                      highly attractive and presents unique                                                                                                                                                                and expertise, offering SEM the
      former Deputy Finance Minister                                        strengthen relationships.              opportunities for the Group.                                                                                                                                                                         platform to develop investment
      ‘Society needs to rise – ultimately the future is in                                                            ‘SEM needs to focus even more on                                                                                                                                                                  products best suited to the
      the hands of our citizens.’
                                                                            Hosted at The Westin                   accelerated organic growth in Africa. This                                                                                                                                                           region as it continues to pursue
                                                                            in Cape Town in mid-                   shift in emphasis will not be at the cost of                                                                                                                                                         its overall focus on organic
                                                                            June, the conference                   India or Malaysia – various initiatives show                                                                                                                                                         growth.
                                                                                                                   Sanlam’s appetite for growth in these
                                                                            was attended by 97                     markets.’
                                                                            delegates from across
                                                                            SEM’s businesses                       Junior Ngulube,
                                                                                                                   CEO of SEM
                                                                                                                                                                                                             Sanlam sells full stake in Enterprise Group
                                                                            in Africa, India and                   ‘SEM’s journey up to now was largely                                                      The Group remains                           Strategic African Investments and                 contribution to the SEM cluster’s growth
                                                                            Malaysia. Here are                     one of building its footprint and business
                                                                                                                                                                                                             committed to maintaining                    Prudential Insurance of America.                  over the years.
                                                                                                                   landscape through acquisitions.                                                                                                         The partnership between Sanlam and                 ‘In the 12 years since the establishment
                                                                            a few highlights.                                                                                                                a presence in the Ghanaian
                                                                                                                      ‘The cluster is increasingly focusing on                                                                                           Enterprise Group started in 2005 when             of our partnership with Enterprise Group,
                                                                                                                   organic growth within its existing partners.’                                             market through its partnership              Sanlam acquired 100% of African Life.             we’ve enjoyed a mutually beneficial
                                                                                                                                                                                                                                                           In 2010, Sanlam and Enterprise Group            relationship,’ says Junior Ngulube, CEO
                                                                                                                                                                                                             with Saham Finances.                        entered into a joint partnership to establish     of SEM.
                                                                                                                   Mthuli Ncube,          Managing

                                                                                                                                                                                                             S
                                                                                                                                                                                                                                                         Enterprise Trustees Ltd., in which Sanlam            ‘Sanlam is committed to the West Africa
                                                                                                                   Director of Quantum Global                                                                         anlam Emerging Markets (SEM)       held 40%.                                         region and through our partnership with
                                                                                                                   Research Lab and Professor                                                                         has sold its stake in Enterprise     To expand its general insurance footprint,      Morocco-based Saham Finances, we retain
                                                                                                                                                                   Image: Onele Liwani

                                                                                                                   at the University of Oxford                                                                        Life Assurance Company Limited,    Sanlam also acquired a 40% shareholding in        a presence in Ghana.
                                                                                                                                                                                         Image: PineBridge

                                     ‘Partnering for shared value’ is       Above: Professor Mthuli Ncube,         ‘Despite the real and potential risks to                                                           Enterprise Trustees Limited and    Enterprise Insurance Company (EIC), one of           ‘In line with our growth strategy, we will
                                        reflected by the symbol for         MD of Quantum Global Research Lab,
                               symbiosis – two circles overlapping          addresses SEM delegates on the long-   look out for, the developing markets hold                                                 Enterprise Insurance Company Limited to     the largest general insurance companies in        in future seek appropriate, value-accretive
                                 to create the ‘O’ in the word ‘one’.       term outlook for emerging markets.     significant long-term opportunities.’                                                     Black Star Holdings Limited, a separately   Ghana, in October 2014.                           opportunities to further entrench our
                                                                                                                                                                                                             managed account held by LeapFrog              Enterprise Group made a significant             presence in the Ghanaian market.’

12                                                                                                                                                                                                                                                                                                                      Inside Sanlam | July/August 2017   13
PARTNERING FOR SHARED VALUE - Inside Sanlam
strategy   / market leadership                                                                                                                                                                                                                              Savings Month campaign                   / brand
                                                                                                                                                                                                                   ‘Fashion is an aspirational and high interest
                                                                                                                                                                                                                area, so by making our savings “tool” beautiful

 Growing stronger
                                                                                                                                                                                                                and teaming up with high-profile people, we’re
                                                                                                                                                                                                                       hoping to grab attention in a novel way.’
                                                                                                                                                                                                                                                                              Yegs Ramiah

     Sanlam Personal Finance has always been the solid home base

                                                                                                                                                                                       Saving has never
     of the Sanlam Group – and it’s set to reach even greater heights.

                                                                                                                                                                                       looked this good
                                                                                                                                                                                            S
                                                                                                                                                                                       This July – National                   anlam has had widespread success
                                                                                                                                                                                                                              with its past National Savings
                                                                                                                                                                                       Savings Month –                        Month social experiments – One
                                                                                                                                                                                       Sanlam tackled the                     Rand Man, One Rand Family and
                                                                                                                                                                                                                    Conspicuous Savers – and this year’s Mna
                                                                                                                                                                                       issue of SA’s low
                                                                                                                                                                                                                    Nam campaign is a first of its kind globally.
                                                                                                                                                                                       savings rates by                Sanlam is giving the public – and
                                                                                                                                                                                       launching a fashion

 ‘S
                                                                                                                                                                                                                    Wealthsmiths™ – tools that will allow them
                    PF is doing well, despite   when we act, we do it well and          often vary by segment, but we need                                                                                          to save as freely as they’d normally spend.
                    the tough environment.      make a success of it.’                  to marshal the resources and be
                                                                                                                                                                                       accessory with                  A limited-edition bracelet and business
                    This isn’t an easy            Jurie says we’re now having           agile enough to grow our position                                                              a difference.                card – both with an embedded QR code –
                    year for any South          some of those big moments again         in each space. We’re a diversified                                                                                          will allow users to scan and save instantly.

                                                                                                                                                                                                                                                                                                                         Images: Getty Images and supplied
     African business because of what’s         with the Retail Distribution Review,    business, so in order to succeed on                                                                                         The Mna Nam, designed in collaboration
     happened at a macro and political          which was one of the driving            the whole we have to succeed on                                                                                             with one of South Africa’s top local fashion
     level, but we’re performing solidly,’      forces behind SPF’s Re-Imagine          a number of fronts.’                                                                                                        designers, Laduma Ngxokolo, is wearable
     says new SPF CEO Jurie Strydom.            restructuring project, as well as                                                                                                                                   tech, or ‘functional fashion’, that allows an
        Looking back at SPF’s                   the BrightRock acquisition. SPF’s       Narrowing the gap                          ‘For SPF,                                                                        instant ‘scan and save’ action.
     performance over the past decade,          new omni-channel strategy with          ‘SPF today is one of the great             the focus
     consistency and discipline of              the client at the core and Sanlam       financial services companies in                                                                                             Low interest area
     execution stand out, he says. ‘We’ve       Reality integration could become        South Africa. We’re the leader in          remains                                             The Mna Nam bracelet,        ‘Talking about finances and savings can be
                                                                                                                                                                                       created by Laduma
     always been focused and clear              big moments too.                        some market segments and in                on giving                                           Ngxokolo (above right)
                                                                                                                                                                                                                    a low interest area for a lot of people,’ says
     in what we tried to achieve, and                                                   others a close follower. I’d like to see
                                                                                                                                   value to                                            in collaboration with        Yegs Ramiah, Chief Executive: Sanlam Brand.        Declining savings ratio
     disciplined about following things         Downgrading and other                   us grow our leadership positions in                                                            Sanlam.                         ‘So we needed to include a compelling           The low levels of savings in South Africa
     through and doing them very well.          challenges                              certain areas and narrow the gap on        our clients.                                                                                        aspect to our Savings           are showing no signs of improving – the
        ‘SPF – and the Sanlam Group             Although the downgrading of South       our fiercest competitors in others,        As South                                                                                                 Month initiative this      average household savings ratio has
     generally – has concentrated               Africa’s credit rating does have        or gain leadership in segments                                                                                                                         year to hook            declined to -0,8%.
     on being market and client                 consequences for the economy, and       where we’re not the leader.
                                                                                                                                   Africans,                                                                                                     people’s attention.      Trurman Zuma, CEO of Sanlam Savings,
     oriented, which has helped us              by implication SPF’s clients, as it        ‘In the investment space Glacier        we’re                                                                                                             ‘Fashion is an    believes the rising cost of living, desire
     respond to important trends.               increases the cost of debt, we’re not   is one of the leading platforms and        resilient and                                                                                                    aspirational       for instant gratification and social media
     The establishment of Sanlam                alone among developing economies        our offering, which now integrates                                                                                                                          and high           have all been factors in distracting people
     Personal Loans and Glacier and             in this regard, he says.                life investment products, is unique.
                                                                                                                                   we’ll prove                                                                                                      interest area,     from saving.
     the acquisition of African Life are           ‘For SPF, the focus remains on       We want to build further scale and         this again.’                                                                                                     so by making          ‘For many people, self-worth is
                                                                                                                                                   Images: Getty Images and supplied

     examples of big moments where              giving value to our clients. As South   extend our leadership position.                                                                                                                             our savings        externalised to social media and material
     good decisions were made that              Africans, we’re resilient and we’ll        ‘In the middle market we’re                                                                                                                             “tool” beautiful    possessions indicate a certain level of
     resulted in successful businesses          prove this again.’                      a leader in the retirement annuity                                                                                                                         and teaming         success. This is a perception we need to
     in the Group.                                 Other challenges SPF faces           space and are fast gaining ground                                                                                                                         up with high-        change. Mna Nam uses influential, high-
        ‘I’d like to continue this emphasis     are the number of regulatory,           in risk products. As the number two                                                                                                                     profile people,        profile South African personalities to talk
     on strategic awareness. Sometimes          technological and other changes as      player in the entry-level market, we                                                                                                                   we’re hoping to         about the need to save. The campaign makes
     you need to take your time in              well as tough competition in each       want to close the gap between us                                                                                                                    grab attention in          the fashion space a place for frugality rather
                                                                                                                                   Jurie Strydom
     deciding the right approach, but           segment. ‘Our fiercest competitors      and the leader significantly.’                                                                                                                    a novel way.’                than excess.’ (continued overleaf)

14                                                                                                                                                                                                                                                                                Inside Sanlam | July/August 2017      15
PARTNERING FOR SHARED VALUE - Inside Sanlam
brand   / Savings Month campaign                                                                                                                                                                                                                                      brand   / SPW

                                                                Five heirs, a bank vault and
                                                                two fortunes squandered
     Smart behaviour
     ‘Mna Nam gives people the power to choose if and
     when they want to save,’ Yegs says. ‘This is vital from
     a behavioural economics perspective – the easier an
     action is, the more likely people are to perform it.’
        Technology talks to people
     on their terms and gives
     access to the majority. If you     ‘The
     can see your contributions
                                        campaign
     are enabling a greater                                     In a real-life simulation by Sanlam Private                                                             generation. With statistics            to build resilience. Social media
     goal, you’re more likely           makes the                                                                                                                       saying a huge portion of this          exacerbates this – our worth is
                                                                Wealth (SPW), five wealthy South African
     to keep saving.                    fashion                                                                                                                         won’t be preserved or grown by         externalised according to what
        ‘Sanlam is proudly African                              heirs were given a major reality check                                                                  heirs, we wanted to understand         we see online, rather than an
                                        space a
     and we are deeply ingrained                                when they realised their entire fortune                                                                 why this keeps happening – and         internalised sense of self.’
     in the society of this country,’   place for                                                                                                                       what can be done to fix it.’              Marteen Michau, Head of
     she says. ‘We believe we                                   could easily be used up in minutes.                                                                        According to Money magazine,        Fiduciary and Tax at SPW, says
                                        frugality

                                                                S
     have the legacy, competence                                                                                                                                        almost 80% of parents today            there’s a need for different
     and emerging-market                rather than                       PW’s latest brand      Head of Marketing and                                                  don’t believe their children are       generations to hold a round-table
     understanding to contribute        excess.’                          campaign shows         Communications at SPW.                                                 properly prepared to safeguard         discussion at which they share
     to improving South Africa’s                                          five offspring            ‘It highlights the importance                                       their inheritance. The Wall            stories, and agree on values and
                                        Trurman Zuma
     poor savings culture.                                                from two wealthy       of expert wealth management                                            Street Journal has echoed this         long-term goals in order to create
        ‘It’s important for us that                             Johannesburg families locked     for the next generation of                                             sentiment, stating that 70% of         a family manifesto and a clear
     the Mna Nam campaign                                       in a bank vault with their       high net worth families and                                            affluent families will lose their      wealth plan.
     goes beyond Savings                                        sizeable inheritances laid out   allows our brand to resonate                                           wealth by the second generation           ‘A large portion of wealth
     Month and kick-starts                                      in front of them in cash.        with both older and younger                                            and 90% by the third.                  is lost because heirs are
     a crucial conversation that’ll                                Asked to follow prompts       generations.                                                              Jamey says while there’s no         unprepared to inherit. We’re
     have long-term positive                                    on a screen, the heirs              ‘The topic of generational                                          easy fix, a big part of the solution   hoping our simulation will start
     implications for people’s                                  systematically throw away        wealth transfer is highly                                              lies in opening up the channels        the open discussions around
     saving behaviour.’                                         bundles of notes for taxes,      relevant to our target market                                          of communication, and having           wealth that could change this.’
                                                                estate duties, start-up costs    and creates the perfect                                                those ‘courageous conversations’
                                                                for business ventures, cars,     platform from which to                                                 about money from which many                                Family 1
     How to save                                                houses, clothes and holidays.
                                                                Within minutes, the vast
                                                                                                 profile SPW’s extensive
                                                                                                 offering,’ she adds.
                                                                                                                                                                        families shy away.                                 IT academy and cigar lounge
                                                                                                                                                                                                                      mogul Nomfundo is a single mom

     with Mna Nam
                                                                                                                                                                                                                to aspiring fashion designer Lwazi (18,
                                                                majority of the fortunes                                                                                Social media influence                     left) and Kwanda (13), who wants to
                                                                are ‘spent’, leaving them        Courageous                                                             Psychologist Angela Hough-                                 become a soccer star.
                                                                                                                                                                                                                        • Visit youtu.be/GSZTCb_m5ZQ
     The Mna Nam bracelet and limited-edition card design
                                                                facing the prospect of a far     conversations                                                          Maxwell agrees. ‘What’s needed

                                                                                                                                    Images: Getty Images and supplied
                                                                more modest lifestyle.           Jamey Lipschitz, Head of                                               is a dialogue around family
     especially for all Wealthsmiths™ have an integrated
     QR code linked to a WeChat Savings Wallet, powered
                                                                                                 Wealth Management at SPW,                                              values and stories in general, with                        Family 2
     by Standard Bank. To start saving with Mna Nam by
                                                                Generational wealth              says the world is about to                                             wealth being just one aspect of            Go-getter dad Stanley failed twice
                                                                                                                                                                                                                      before his jacuzzi business took
     transferring funds into your Savings Wallet, follow the
                                                                transfer                         see the largest ever inter­                                            a larger conversation,’ she says.         off, and incessantly spoils his three
                                                                ‘The simulation provides         generational transfer of wealth.                                          ‘When children are given             daughters, (from left) Lieneke (14), the
     simple steps at the back of the card.                                                                                                                                                                      baby of the family, aspirational activist
                                                                a fresh, relatable take            ‘Over the next 20 years,                                             everything too easily, the
     • Download the WeChat app on your smartphone and                                                                                                                                                               Sheri (22) and would-be wedding
                                                                on traditional financial         500 super-rich will transfer                                           value of money is lost, and                                planner Chrisley (24).
        sign up.
                                                                education,’ says Anèl Grobler,   about $2,1 trillion to the next                                        there’s not enough adversity                    • Visit youtu.be/Nr6MWGJrbn0
     • Click ‘+’ in the top right to scan the Mna Nam QR code
        and tap ‘follow’.
     • Click ‘save’ to get started and link your debit card.
        If you don’t have a WeChat Wallet,                                                                                                                                                                     First-hand
        follow the prompts to set one up.
     • Now you can start saving to your
                                                                                                                                                                                                               experience
                                                                                                                                                                                                               Visit www.thefamilyfortune.co.za
        WeChat Wallet every time you                                                                                                                                                                           to step into the virtual vault and
                                                                                                                                                                                                               experience the future of your own
        click ‘save’.                                                                                                                                                                                          wealth. You can also view the
                                                                                                                                                                                                               simulation.
     A limited number of Mna Nam bracelets are available
     to staff. To order yours, complete the form at http://
     intranet.sanlam.co.za/sites/Campaigns/MnaNam

16                                                                                                                                                                                                                                                          Inside Sanlam | July/August 2017   17
technology    / online safety
                                                                                                                                                                                                                                                                                                                  Retail store employees read
     Many cybersecurity threats experienced by corporates                                                                                                                                                                                                                                                           a ransomware demand for
                                                                                                                                                                                                                                                                                                                   the payment of $300 worth
     and individuals originated as large-scale nation state                                                                                                                                                                                                                                                             of bitcoin on company
                                                                                                                                                                                                                                                                                                                    computers infected by the
     operations – and Sanlam is also at risk of being targeted.                                                                                                                                                                                                                                                     Petya ransomware in Kiev,
                                                                                                                                                                                                                                                                                                                          Ukraine, on 28 June.

 Cyber risk:
                                                                                                                                                                                                                                                                                            agreements and support. So it’s very much            longer sufficient to simply build a firewall
                                                                                                                                                                                                                                                                    The                     an issue for an organisation like Sanlam.’           or defence system. The constantly evolving

                                                                                                                                                                                                                                                                    Dark                       This means nation state-sponsored                 arms race of malicious code means these

     war, crime, hacking
                                                                                                                                                                                                                                                                                            cyber weapons are now available for                  would be breached by a significant attack.
                                                                                                                                                                                                                                                                    Web                     ‘sale’ to anyone interested, regardless of               The good news is that the ‘threat actors’
                                                                                                                                                                                                                                                                    A term that describes   motivation or skill level. For example, the          actually follow a seven-step process, one
                                                                                                                                                                                                                                                                    websites that exist
                                                                                                                                                                                                                                                                    on an encrypted         Shadow Brokers, a Russian cyber gang                 documented by military conglomerate
                                                                                                                                                                                                                                                                    network. It can’t       believed to be behind the WannaCry                   Lockheed-Martin and dubbed the ‘kill chain’.

        or what?
                                                                                                                                                                                                                                                                    be found using
                                                                                                                                                                                                                                                                    traditional search
                                                                                                                                                                                                                                                                                            outbreak, are promising a fresh load                 Put simply, this involves gaining access to
                                                                                                                                                                                                                                                                    engines or visited      of US National Security Agency (NSA)                 an IT system, planting a hidden ‘weapon’
                                                                                                                                                                                                                                                                    by using traditional    attack tools on a monthly subscription               or piece of code in it, and then activating
                                                                                                                                                                                                                                                                    browsers. It’s only
                                                                                                                                                                                                                                                                    accessible by means     basis – like a wine-of-the-month club                it to achieve specific objectives. These fall
                                                                                                                                                                                                                                                                    of special software,    for cybercriminals.                                  into four broad categories: encryption,
                                                                                                                                                                                                                                                                    so users and website       For a price, you can buy ransomware               surveillance, fraud and sabotage.
                                                                                                                                                                                                                                                                    operators remain

 O
                                                                                                                                                                                                                                                                    anonymous or            that will encrypt all files on a target’s                Encrypted systems are frozen or hidden
                 n 27 June 2017, the world             the system it would eventually cripple – the                                                                                                                                                                 untraceable.            machine or even the whole disk until they            from their users, usually to extort a bribe.
                 experienced one of the most           stuff science-fiction movies are made of.                                                                                                                                                                                            pay to release them.                                 Surveillance involves spying on a machine to
                 advanced and widespread                                                                                                                                                                                                                                                       Like the WannaCry attack in May, a recent         get sensitive data from it. Fraud is just fraud,
                 ransomware attacks in history.        Trial run                                                                                                                                                                                                                            assault on US telecoms provider IDT relied           albeit possibly automated, while sabotage is
     The attack affected Ukraine’s central bank        In June this year, a report analysing Crash                                                                                                                                                                                          on cyber weapons developed by the NSA                about destruction, pure and simple.
     and infrastructure, global advertising group      Override sent out a warning to the world:                                                                                                                                                                                            that were leaked online in April.
     WPP and Russian oil conglomerate Rosneft,         this was not just an isolated extension of                                                                                                                                                                                                                                                Some predictability
     among others.                                     military manoeuvres in the Crimea. It was                                                                                                                                                                                            Everything is connected                              The good news is that no matter what their

                                                                                                                                                           Images: Getty Images and supplied Sources: Businessinsider.com, pcadvisor.co.uk, whatis.techtarget.com
        The ransomware, dubbed ‘Petya’, came           a trial run. Future attacks are imminent                                                                                                                                                                                             So many cyber attacks are indeed just trial          objectives, if the bad guys’ actions follow
     hot on the heels of May’s WannaCry                and will render even more well-protected                                                                                                                                                                                             runs – a sobering taste of things to come.           a process, they’re also predictable. And if
     outbreak, which was nipped in the bud             systems vulnerable the world over. The                                                                                                                                                                                                  ‘In a world where the internet of things          their actions are predictable, then they will
     when a junior working for a security firm         hackers are getting better.                                                                                                                                                                                                          (IoT) connects every object around you in            be – to some extent at least – preventable.
     found an unlikely chink in the code’s armour.        ‘Nation states with considerable capability                                                                                                                                                                                       a communications system, these everyday                  ‘We’re not helpless,’ Johan says. ‘If they
     But the scary thing about both attacks was        are building these weapons using some of                                                                                                                                                                                             objects will have software that describes,           follow a process, then we can follow a
     not their enormity, but that security experts     the largest teams containing the best brains,                                                                                                                                                                                        analyses, measures, passes on information            process.’
     knew they were coming.                            and being funded by serious amounts of                                                                                                                                                                                               and responds to commands. So the cyber               • In our next article we’ll look into the
        Since hostilities with Russia resumed          money,’ says Johan Marnewick, Head of                                                                                                                                                                                                threat moves from information and the                monitoring and response capabilities
     when Vladimir Putin invaded the Crimean           Group IT.                                                                                                                                                                                                                            organisational realm to the physical and             that form the core of Sanlam’s cyber
     Peninsula in 2014, Ukraine has experienced a         It’s tempting to dismiss these incidents                                                                                                                                                                                          potentially personal,’ Johan says.                   resilience strategy and meet some of
     series of cyber attacks that have shut down       as large-scale global issues that couldn’t                                                                                                                                                                                                                                                Sanlam’s cyber warriors.
     significant portions of its power utilities and   possibly affect your average Sanlam                                                                                                                                                                                                  Television attack
     plunged its capital, Kiev, into a blackout.
        The first assault, in December 2015, is
                                                       employee or client. Isn’t comparing an
                                                       international cyber attack with a local
                                                                                                                                                                                                                                                                    The                     ‘All smart TVs run software. Your home
                                                                                                                                                                                                                                                                                            could therefore be attacked via your
     famous because it was the first cyber attack      company’s cybersecurity the same as                                                                                                                                                                          internet                television set. Recently, a group hacked into
     to specifically shut down a public power          comparing a Syrian missile strike with                                                                                                                                                                       of    things            a self-driving car and even demonstrated
     grid. A year later the grid went down again,      a street mugging?                                                                                                                                                                                            The IoT is the          that they could make the brakes fail.
                                                                                                                                                                                                                                                                    network of
     and this time the code used was far more                                                                                                                                                                                                                                                  ‘At the moment, when cybercriminals               Johan Marnewick
                                                                                                                                                                                                                                                                    connected objects
     sophisticated and deadly.                         Cyber weapons on the Dark Web                                                                                                                                                                                that can collect        target a hospital, for example, it’s usually
        While the first attack gained remote           Not quite, according to Johan. ‘These cyber                                                                                                                                                                  and exchange data       the hospital’s information systems getting           ‘For an organisation like
                                                                                                                                                                                                                                                                    using embedded
     access for hackers to manually sabotage the       weapons get leaked into the Dark Web,                                                                                                                                                                        sensors, such as        hacked. But what would happen if an                  Sanlam, it’s no longer
     grid, the second, dubbed Crash Override,          where almost anyone can access them.             Polish Prime Minister Beata Szydło holds a press                                                                                                            vehicles, lights,       individual’s life support was compromised?
     was automated and autonomous, with an             In fact, an entire economy has been built
                                                                                                        conference about the Petya ransomware attack                                                                                                                refrigerators and       This is the future, and it’s downright scary.’
                                                                                                                                                                                                                                                                                                                                                 sufficient to simply build a
                                                                                                        in Warsaw on 28 June. Poland was among the                                                                                                                  other appliances.
     invisible script gathering information inside     around them, complete with service-level         countries hit by the recent attack.                                                                                                                                                    For an organisation like Sanlam, it’s no          firewall or defence system.’

18                                                                                                                                                                                                                                                                                                                                                           Inside Sanlam | July/August 2017       19
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