Sanlam
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Zwelakhe Mnguni from Benguela Global Fund Managers and Nesan Nair from Sasfin Securities both chose Sanlam as their stock pick of the day.
Mnguni said: "I'm going to with Sanlam, I think it has recovered nicely from a bad patch. They've been extremely prudent with their provisioning and historically and they don't need to put any additional provisions in place in terms of Covid-19. They put on in place and that was it, and this is symbolic of how the business has been run historically."
Nair said: "My pick is also Sanlam for a lot of the reasons that Zwelakhe mentioned and in addition they recently did the purchase of Saham in the rest of Africa and I think that was quite a fortuitous deal."
Mnguni said: "I'm going to with Sanlam, I think it has recovered nicely from a bad patch. They've been extremely prudent with their provisioning and historically and they don't need to put any additional provisions in place in terms of Covid-19. They put on in place and that was it, and this is symbolic of how the business has been run historically."
Nair said: "My pick is also Sanlam for a lot of the reasons that Zwelakhe mentioned and in addition they recently did the purchase of Saham in the rest of Africa and I think that was quite a fortuitous deal."
