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Market communique - GIB Group shareholding

25 March 2021 GIB Group

Dear Business Partner

We are pleased to announce that the GIB Group has acquired the remaining 50% shareholding in GIB-HW brokers Cape from HW Brokers with effect from 01 March 2021. The acquisition makes the GIB Western Cape a wholly-owned division of the GIB Group and, going forward, will trade as GIB Western Cape.

The transaction is aligned to the strategic objectives of GIB to increase its presence in the Western Cape whilst further strengthening its position in the market by providing clients with sustainable and cost effective solutions in the field of risk, insurance and financial services.

This acquisition will not affect the day-to-day operation of the business and Fuzlin Abrahams, the current Managing Director, will continue to lead the division with the support of her capable team.

GIB is excited about the opportunities this transaction creates and remains committed to providing its clients with the highest standard of service and advice.

Please call Fuzlin Abrahams on +27(0)21 670 2450 or myself should you have any queries or require further clarification.

Regards,

Jurie Erwee – GIB Group CEO

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QUESTION

Covid-19 may accelerate certain industry trends. What are we likely to see?

ANSWER

Adoption of contactless technologies and digital experiences will likely be accelerating emerging technologies further
The consumer will expect safety and precautionary measures, driving the need for enhanced surveillance policies and technologies, which may pose potential privacy concerns
Rising activism among consumers and employees could drive an increased focus on corporate purpose
Value chain disruption is likely to lead to an increase in creative partnerships, which may in turn cause organisations to further invest in developing the mindset and agility to collaborate across sectors in the ecosystem
Cost management will be a critical priority to ensure business continuity based on cash flow requirements, to manage lower margins and revenues during a downturn
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