South African insurance and investment company, Sanlam may have a problem pushing through a billion dollar deal in Morocco. Sanlam is in the process of trying to purchase Saham Finances SA, and it may come in to conflict with the South Africans government support of the Saharawi people.
According to fin24.com Moroccan billionaire Othman Benjelloun spoke out on the deal and said “Sanlam’s acquisition of insurer Saham Finances SA”. He further said that South Africa has chosen the wrong side in a territorial dispute. The South African government last month hosted the Southern African Development Community (SADC) heads of State meeting which was held to show the regions solidarity with the Saharawi.
Benjelloun is very influential and is the chairperson of Morocco’s BMCE Bank. He also called for South Africa to change strategies with regard to Morocco or the deal will receive no support.