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Santam buys Kandua as it eyes new market segments

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 27 May 2024
Gloria Tapon-Njamo, CEO of Santam Partnership Solutions.
Gloria Tapon-Njamo, CEO of Santam Partnership Solutions.

Local short-term insurer Santam has acquired Kandua, an online marketplace company for home services, for an undisclosed amount.

In a statement, the insurer says Kandua will merge with Santam’s existing home service offering, Home+, forming a wholly-owned, independent subsidiary.

“Kandua’s talent, technology and customer base are valuable assets for our business, as it opens up new avenues for client growth and digital innovation. The business has an established technology and extensive network of customers,” says Gloria Tapon-Njamo, CEO of Santam Partnership Solutions.

“This is a strategic acquisition aimed at accelerating our digital innovation and expansion into new market segments. This acquisition expands the impact Santam can have on informal artisans and small businesses, through access to training, enabling business growth, job creation, financial inclusion and introducing products tailored for their needs.”

Founded by entrepreneurs Sayo Folawiyo and Arjun Khoosal in 2014, connects professional services firms with consumers.

It offers an online marketplace for home services that enables consumers to connect with, compare and hire professionals across service types, such as plumbers, electricians and carpenters. Service providers can use the ‘Kandua for Pros’ app to find new customers and manage their core business processes.

Kandua for Business, a division that caters to retailers and insurance companies, uses technology to make service integration into the value chain transparent and efficient. Retailers can offer customers professional installation services together with their purchases of home goods.

“Our vision is to make home service fulfilment seamless and equitable for service providers and the customers they serve, driven by trust and simplicity. We do this by using technology to make marketing and business operations easier for service providers: shortening the distance between having a skill and making a living from it. Being part of Santam accelerates this work,” says Folawiyo, who will continue to serve as CEO of Kandua.