Sanlam: Using the Workplace to Advance Financial Wellbeing in South Africa

The employee benefits sector has long been a gateway to formal financial systems for millions of South Africans, providing access to retirement savings, risk cover, and financial education. Yet engagement remains uneven, and the opportunity to create deeper, long-term financial resilience for individuals and businesses is still largely untapped.

Our Network Member in South Africa, Sanlam Corporate, is working to change that.

Lorraine Mekwa, Managing Executive: Client Experience at Sanlam Corporate, believes the workplace is one of the most powerful and overlooked platforms for advancing financial inclusion. As South Africa takes on a leadership role within the B20/G20 in 2025, global attention is turning toward inclusive growth and stronger financial systems that support both individuals and MSMEs.

“The workplace gives institutions scale,” Mekwa explains. “It allows us to deliver access to financial tools and education more efficiently and at lower cost, reaching people who might otherwise remain underserved.”

Sanlam’s own 2025 Benchmark Survey highlights why this matters. While 64% of retirement fund members said regular financial education is very important, only 11% had access to a financial advisor through their employer at the point of withdrawal. This gap represents a missed opportunity to support better decisions and long-term financial wellbeing.

To address this, Sanlam Corporate is focusing on practical strategies that remove friction and increase engagement:

• Digital engagement platforms to simplify access and deliver real-time financial education
• Standardised and automated processes to reduce complexity and increase transparency
• Flexible benefit structures that adapt to different life stages and employee needs

These initiatives go beyond financial products. They promote financial self-care, resilience, and inclusion, all of which directly support healthier, more stable workforces.

We are proud to have Sanlam Corporate as part of our Network.

Wellbeing programs like these are not just local success stories. They are essential to delivering the best employee benefits solutions for multinational clients, where supporting diverse employee needs across markets is both a responsibility and a competitive advantage.