PIONEERING VISION Continental ambition
contents One Group, One vision................................................................. 4 Highlights 2015 . . ........................................................................ 6 A performance orientated organisation................................ 7 CONTINENT-WIDE coverage.......................................................... 8 The Saham Foundation : working for equal opportunities........ 9 our business divisions ................................................................... 10 Shared values .................................................................................. 18
I
a message from the chairman
t is my great pleasure and pride to celebrate twenty years of growth with you. Our company has stayed true to its initial vision and experienced great successes and impressive achievements across Africa and the Middle East. This journey is far from over as we continue to progress with the same enthusiasm, sense of ethics, and core beliefs that have defined us since the beginning. With the hope of building a brighter future, we are more determined than ever to undertake large-scale projects. We are convinced that carrying out these ambitious projects will enable a better future for all. This future is one of the reasons why we have always been convinced of the need to work towards sustainable development. “Your task is not to foresee the future but to enable it�, once said Saint-Exupery. Let’s continue to advance by thinking in the long-term, as a socially responsible company committed to working with the community. The business world only has meaning if it helps the wider community achieve a future built by humans and founded on common dreams. I am proud to share these convictions and hopes with you all.
Moulay Hafid Elalamy
Chairman & Founder of Saham Group
One Group, One vision
20 years of
(1995) continual
development (1998) • Transfer through introduction on stock market of Agma Lahlou-Tazi
(2005) • Acquisition of 67.01 % of CNIA Assurance
(2010) • Floatation on the stock market of CNIA Saada Assurance • Acquisition of the Colina Group
(2013) • Creation of subsidiaries in Niger and the Congo • Creation of Saham Ré • Acquisition of the Insurance company Mercantile Insurance - Kenya
• Creation of Saham Group • Acquisition of the Agma brokerage firm
(1999) • Creation of Phone Assistance, first call centre in Morocco
(2006) • Acquisition of 100 % of Assurances Es Saada
(2011) • Acquisition of the GlaxoSmithKline Maroc Production unit (pharmaceutical products)
(2014) • Acquisition of the insurance company Corar AG Ltd - Rwanda • A doption of a single brand Saham Assurance for insurance subsidiaries and Saham Assistance for assistance subsidiaries • A cquisition of the Insurance company Unitrust Co Ltd. - Nigeria (4)
(1997) • Acquisition of the Lahlou-Tazi brokerage firm • Acquisition of a minority share in ISAAF Assistance
(2004) • Acquisition of a majority share in ISAAF Assistance
(2009) • Merger between the companies CNIA and Es Saada
(2012) • Acquisition of LIA Insurance Lebanon • Acquisition of the insurance company GA Seguros - Angola • Creation of ISAAF SANTE
(2015) • Acquisition of ECCO Outsourcing, client relations BPo center in Egypt • Acquisition of Continental Reinsurance PLC in Nigeria
A PIONEERING vision Saham Group has always had a vision. It is the vision of its founder, Moulay Hafid Elalamy, who has always believed that success is built on certain core values: excellence, commitment and solidarity. Since its beginnings in 1995, it is these values and convictions which have guided Saham Group. Embodied by its teams, they have allowed the group in just two decades to become a leader in the field. Today, Saham Group is recognised as a reference in high added value services: insurance, assistance, client relation centres, real estate and healthcare. Saham Group, through the operational excellence of its subsidiaries and their ability to deliver high quality services, has succeeded in expanding throughout Africa and the Middle East, and becoming a significant continent-wide group.
1 partnerships st rate
Over the last few years, Saham has established strategic business partnerships with high profile international actors including Wendel and Bertelsmann. Thanks to the confidence of these partners and investors, the Group has consolidated its financial base and confirmed the effectiveness of its international growth model.
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Highlights 2015 Key indicators* Operations in
1.16
9500
billion USD
Aggregated turnover
27
Employees
countries
* 2014 data
the group
Host Countries +7
30
countries
25 20
+2
countries
+13
countries
15 10 5 0 2010
2012
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2015
A performance orientated organisation A myriad of skills
and
clear synergy
A Pan African group with diversified business activities, Saham Group is based around two historic fields: insurance and customer relations centres. Capitalising on the experience gained in real estate through its insurance arm, the Group has put its industry know-how and attention to detail to use in large-scale real estate projects in Morocco and Sub-Saharan Africa. Through its healthcare division, Saham also works to improve health facilities in Africa by supplying well-equipped and modern medical units in line with international standards. Faced with the current educational emergency in Africa, Saham Group has also launched an academic network of excellence drawing on the benefits of the Group’s strong local presence.
SAHAM FOUNDATION INSURANCE DIVISION
OFFSHORING DIVISION
REAL ESTATE DIVISION
A well-organised,
committed
HEALTHCARE DIVISION
EDUCATION DIVISION
&
competent team
Saham is made above all of dedicated men and women working in teams to achieve the Group’s projects with professionalism and determination. PRESIDENCY
MOULAY HAFID ELALAMY ADVISOR TO THE PRESIDENT
SAHAM FONDATION
G. LAHLOU
G. KITTANE
GENERAL MANAGEMENT
S. BENDIDI
GENERAL SECRETARY
MOULAY MHAMED ELALAMY
INSURANCE DIVISION
R. FARHAT
OFFSHORING DIVISION
O. SERRAJ
HEALTHCARE DIVISION
S. BENDIDI
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REAL ESTATE DIVISION
K. JOHRATI
EDUCATION DIVISION
H. FILALI
Continent-wide coverage A Pan African
vision
Across the 27 countries in which it operates, both in the Middle East and Africa, Saham Group has created a unique, international and multicultural network. Through a solid sustainable base in an ever-growing company and thanks to a diversification of industry sectors and business activities, Saham Group has positioned itself as a reference partner for the development of new opportunities. The Group grew in the host countries and was able to leverage the macroeconomic advantages of this booming continent.
Map
of operations North Africa Algeria Morocco Tunisia
West Africa Ivory Coast Senegal Togo Benin Ghana Niger Nigeria Guinea Burkina Faso Mali
Central Africa Angola botswana Cameroon Gabon Congo
Middle East Egypt Lebanon Saudi Arabia
East Africa Kenya Rwanda Madagascar Mauritius
Europe France Luxembourg
Countries where Saham Group operates
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The Saham Foundation : working for equal opportunities
Flagship
Committed
projects in
to acting
2015
As part of its “Action for health” program, the Saham Foundation has led two main projects.
responsible
Saham Solidarity Visits Marginalised populations, particularly in rural areas, suffer from a lack of adequate medical support as well as a significantly high infant and maternal mortality rates. To give people in these areas better access to healthcare, the “Saham Solidarity visits” take healthcare to those in the most remote areas. Since 2013, more than 18,000 consultations have been provided thanks to a multidiscipline medical team, which has also worked to provide preventative hygiene measures.
Created in 2008, The Saham Foundation has the primary mission of supporting equal opportunities for marginalised populations in Africa and the Middle East. Its work is based around three main programs: • The “Action for health” program: To facilitate access to healthcare for marginalised populations in remote areas. • The “Action for social entrepreneurship” program: To promote initiative taking and the entrepreneurial spirit by promoting local resources and riches. • The “Action for young people” program: To raise awareness amongst young people, starting at an early age, about entrepreneurship and initiative taking.
Improving the sight of school children with the program “Naddar Ati” In 2015, to improve the sight of school children, the Saham Foundation, in collaboration with the Ministry of Health, the organisation Access Health International, and the Hassan II Foundation for Ophthalmology, began working with young school children to detect and handle their eye care needs and provide glasses. This program will last for the next three years. It will cover the most remote regions of Morocco and ensure that children from remote rural areas also reap the benefits of education.
The Foundation works in close collaboration with local and international associations as well as NGOs, which bring their skills together to benefit local populations. Those working with and for the Group also take part. (9)
our business divisions
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SAHAM FINANCES, A Pan African leader in Insurance
Raymond Farhat Managing Director of Saham Finances Saham Finances has confirmed its financial stability as well as its position as a Pan African leader by reaching a consolidated turnover of one billion dollars. Encouraged by this success, SAHAM Finances aims to continue its regional expansion, optimising its close relationship with clients and consolidating its market share in the different countries where it operates.
Saham Finances, insurance arm of Saham Group, brings several of the groups business sectors together under one holding: Insurance, Assistance, TPA. Thanks to a widespread presence in Africa and the Middle East, Saham Finances provides a unique range of complementary services, which respond to the expectations of private individuals, professionals and businesses. The highly noticeable identity helps the Holding’s visibility - A group, which provides professionals with its expertise to be able to respond to the basic needs of people. In 2014, Saham Finances brought its numerous insurance and assistance brands across Africa under two flagship brands: CINA Saada Assurance, the Colina Group, and Mercantile Insurance became Saham Assurance. The other brand Saham Assistance has achieved its success through Quality, Innovation and Excellence.
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Expertise By bringing into one Holding the various insurance related businesses, Saham Finances guarantees closer collaboration among professionals and a better use of its expertise. Saham Assurance is committed to supporting its clients by offering them personalised products and a high quality service. Its efforts were recognised in 2014 by the “International Quality Crown” awarded to its subsidiary Saham Assurance Maroc. This prestigious international prize rewarded its success in Quality, Innovation and Excellence.
INSURANCE AND REINSURANCE
SAHAM FINANCES SHAREHOLDING
62,50%
At the heart of the Group’s work, insurance represents a historic pillar in Saham’s development in Morocco as well as in West and Central Africa. The work of Saham Assurance has experienced accelerated growth thanks to the success of its well though ambitions policy. This was particular the case in the purchase of the Colina Group (1st insurer in the CIMA region, present in 13 countries in 2010). The momentum of this business has also been achieved by setting up subsidiaries in high growth potential countries, such as Niger and Congo in 2013. In 2013, to optimize the reinsurance needs of our subsidiaries, Saham Group created Saham Ré, a reinsurance company in charge of deploying and sharing best underwriting practices. With a network of over 650 agencies and its customer-centred strategy, Saham Assurance sets itself apart, making itself a Pan African reference in the field.
Finances
18,75%
18,75% On 24 November 2015, Abraaj, IFC and ALAC investment funds sold their shares in the capital of Saham Finances: Sanlam Group 30% and 7.5% Saham Group (subject to regulatory approval).
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1
Assistance Saham Assistance has used its proven experience in Morocco to develop its activity across Africa, particularly in the Ivory Coast and in Cameroon. Today, Saham Assistance has more than 6 million beneficiaries in Africa.
TPA Off the back of its successful 15-year long pioneering experience with MCI Sogem in the Ivory Coast, Saham Finances has expanded the TPA business across Africa and the Middle East. It has achieved this using its subsidiaries MCI Burkina, TCL in Lebanon, MCI Care in Morocco, MEDGEST in Madagascar and SAHAM Healthcare Administration in Saudi Arabia. By relying on a network of agreed healthcare service providers, this fee management system allows insurers and businesses to offer their clients and employees an optimum quality of service.
consumer Credit Created in 1986 and floated on the stock market in 1997, Taslif is a major player in the consumer credit market in Morocco. Saham Group, which has held a 63% share since 2007, has been able to motivate its subsidiary through the promotion of responsible credit.
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Key Indicators
st
PANAFRICAN INSURER
IN WRITTEN PREMIUMS
(OUTSIDE OF SOUTH AFRICA)
Operations in
26 650 2700 Countries
AGENCIES IN AFRICA
3%
EMPLOYEES
DISTRIBUTION OF TURNOVER IN 2014 BY COUNTRY
Gabon 10%
11%
Lebanon
Rest of Africa
11%
Ivory Coast
17%
48%
Morocco
Angola ( 13 )
OFFSHORING DIVISION, Demanding quality customer relations Otmane Serraj
Managing Director of Offshoring Division Our offshoring Division is a pioneer in the customer relations market in Africa as well as a true benchmark in the industry. By putting quality at the centre of our work, we are constantly endeavouring to adapt our services in terms of cost, quality and flexibility whether as part of our services or by signing lasting business partnerships. This vision relies on respecting the commitments we undertake with each of our partners. This encourages a successful outsourcing experience and ensures high added value services.
MISSION Since 1999, Saham Group has been a pioneer in the offshoring market through the creation of Phone Group. In 2004, the operator signed an equity partnership with Bertelsmann, the number one communications group in Europe. Phone Group is today a key player in outsourced client relations for Francophone Africa. More recently, in March 2015, Saham purchased the Egyptian operator ECCO Outsourcing, one of the leaders in the Middle East and North Africa for customer relations centres and Business Process Outsourcing (BPO). In addition to Phone Group, which targets the needs of big players in the francophone market, the acquisition of the operator ECCO allows Saham to offer a high performance offshore platform to clients in Arabic and English speaking markets, particularly in the Middle East, Europe and the United States.
Expertise Saham’s Offshoring division involves two main services:
The Contact CentEr brings together the work of client services, business assistance, back office and technical assistance, and responds to the needs and requests of the final client.
Business Process outsourcing or BPo offers the relocation of operations or the outsourcing of support services for a company. Phone Group and ECCO outsourcing are rewarded each year by international certifications and labels, highlighting both companies’ operational excellence and their commitment to ensuring high standards of quality.
key indicators
Labels
Operations in
4
countries
Morocco, Senegal, Ivory Coast, Egypt
6500 9 employees
Phone Group
languages
Ecco Outsourcing
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SAHAM Immobilier, Building a better quality of life
Kawtar Johrati Managing Director, Saham Property Our real estate projects are unique in the fact all are thoroughly studied to fit in their surroundings. Their common feature, regardless of the size, lies in the quality standards, a specific trait of Saham’s Real Estate division. By providing our customers with this level of support, our teams strengthen that ambition on a daily basis. From setting out expectations to the projects’ completion, our desire is to build a trust relationship to ensure a good quality of life.
MISSION Capitalising on the real estate experience of its insurance branch, its understanding of the sector, and its solid financial base, Saham Group decided to set up an entire division dedicated to real estate. Through Saham Immobilier in Morocco, the Group develops large-scale real estate projects, making the most of its industry know-how and attention to detail.
Expertise The real estate division of Saham designs and builds innovative and well-researched real estate projects. Saham’s real estate projects provide high quality housing, which meets international norms. To provide a good quality of life, Saham Immobilier picks choice locations for its projects, ensuring the development is respectful of the environment. Edenya, Peninsula, Vert Marine, Ambar are just some of the many projects which demonstrate the division’s commitment to becoming a reference for high quality real estate.
KEY INDICATORS
175Ha of land reserve in Morocco
5
real estate programs in Morocco ( 15 )
MEDEN HEALTHCARE, A Division dedicated to Health
Sa창d Bendidi / Managing Director Saham Group To fight against the gaps in healthcare provision, Meden Healthcare has invested and developed well-equipped modern medical units across Africa. Meden Healthcare has the totally innovative concept in Africa of creating healthcare structures at international standards and offering complete medical care. Its doctor-partners work under the best conditions, making the most of a healthcare network which prides itself on ethical human centred medical services.
MISSION By investing in the field of health, Saham is staying loyal to its main mission: to contribute to building a better future for future generations and placing people at the heart of its work. In light of the healthcare infrastructure needs in Africa, the Healthcare Division of the Group has developed modern high performance medical units which meet international standards. To achieve this, the Group has made use of its strategic partnership with the Lavina-asisa cooperative, a Spanish leader in medical management, established in 2013.
COUNTRIES WITH OPERATIONS
Morocco
Egypt
Expertise The healthcare Division has developed a network of clinics called Evya, which offer multidisciplinary expertise, cutting edge technical support and high quality services. By taking care of the everyday management of the centres, Meden Healthcare allows its doctor-partners to work under the best conditions and to make the most of a healthcare network which prides itself on ethical, human centred medical services.
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SANA education, THE GUARANTEE OF EXCELLENce
Hassan FILALI / Managing director of the Education Division Sana Education believes that no parent should have to choose between quality education at the highest international standards and the pride of belonging to a local culture, nor to choose between a rigorous academic education and the development of young people equipped with a strong sense of entrepreneurship. At Sana education we believe that the best of both models exists and we aim to roll it out across Africa.
MISSION In the face of proven inadequacies in the education systems of Africa, developing high quality efficient teaching methods has become an unavoidable necessity. To support development and respond to the needs of the continent, Saham Group, in partnership with the Tana investment fund, has created a division dedicated to Education, SANA Education. SANA Education is developing a network of high-quality teaching establishments throughout Africa. They go from preschool to high school and are rooted in local cultures. They place the well being of the child at the heart of their pedagogy. Based on a growth strategy that encourages new developments, SANA Education aims to reach a capacity of 100,000 students within 10 years.
COUNTRIES WITH OPERATIONS
Morocco
Egypt
Expertise SANA Education schools rely on two major teaching systems a ‘Premium international’ service, and an ‘Excellent bilingual’ course. They share a strong pedagogical foundation and organisational structures. The training offered prepares students for the most prestigious Baccalaureates, such as the French Baccalaureate in Morocco, or the Canadian Baccalaureate in Egypt. To ensure the highest standards of quality, Saham’s education project has set aside funds for hiring and training of teaching staff. Concerned with educating happy balanced students, the schools signed to SANA Education, bring Saham Group’s values to life. They embody critical thinking, entrepreneurship and creativity within a context of social responsibility and awareness. ( 17 )
Shared
values
Entrepreneurship
Excellence
This value is profoundly linked to the Group origins, which were built on an proactive entrepreneurial strategy. Individual initiative and collective success are the motors for Saham Group’s development.
Those working for the Group deeply believe that being the best in their respective fields is crucial. Management has the goal of bringing this spirit alive at a day-to-day level as well as manifesting it in the ambitious projects undertaken by both the Group and its subsidiaries.
Ethics
Innovation
Those working for Saham are attached to the values of respect, honesty and transparency. Accepting others and their differences, often synonymous with success and effective collaboration, characterises the HR policy.
Imagining unexplored markets, developing innovative products and services, transforming the distribution network to increase proximity to the clients are actively encouraged throughout the Group.
Solidarity Saham Group is strongly involved in efforts of social responsibility. It is epitomised in the Saham Foundation, which since 2008 has worked to improve the lives of marginalised populations in Africa.
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Edition • December 2015
216, boulevard Zerktouni - 20 000 Casablanca - Maroc T. : +212 5 22 43 56 00 - F. : +212 5 22 26 55 58 Communication Direction : communication@saham.com
www.saham.com