Top South African Insurer Sinks as Ramaphosa to Sign Health Bill [BNN Bloomberg (Canada)]
SANLAM LTD S/ADR (SLLDY)
NASDAQ:AMEX Investor Relations:
sanlam.com/investorrelations
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Source: BNN Bloomberg
Ramaphosa will assent to the legislation on Wednesday two weeks before national elections in which the ruling African National Congress risks losing its majority for the first time since coming to power three decades ago. The president has vowed on the campaign trail to use the legislation to end “health-care apartheid.” Discovery dropped as much as 7.4%, the most since March, while peers including Momentum Metropolitan Holdings, Sanlam Ltd. and Old Mutual Ltd. also traded lower. Discovery has dropped 22% this year, compared with a 2.7% increase in the FTSE/JSE Africa All Share Index. Read more: South African Leader to Sign Health Law Opposed by Business The so-called National Health Insurance bill provides a framework for the provision of universal care through a state-run fund and will ban the private sector from financing treatment covered under the plan. Ultimately, the legislation aims to provide quality health care for the 85% of South Africans who have no medical cover a
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