Minet Group and Africa Lighthouse Capital (ALC) have announced the acquisition of Aon’s shareholding in Aon Botswana, effective June 1st, 2021.
AON Botswana will now operate as Minet Botswana and will effectively increase Minet’s footprint in Africa, to 9 offices across the region.
Commenting on the event, Minet Group CEO, Mr. Joe Onsando expressed the importance of this acquisition to Minet’s growth plan.
“The addition of Minet Botswana to our growing African network affirms our belief in the great opportunities for growth that Africa offers, driven by rising consumer demand, huge investment in infrastructure and quick adoption of new technology. This transaction significantly adds to the diversity and skills base of our team and will have a positive impact on the range of products and services we provide. Our Correspondent agreement with Aon gives us access to global expertise and data driven insights and uniquely positions us to deliver risk advisory solutions that reduce volatility, thus driving improved performance for our clients. This is a very exciting time to be Minet in Africa.’’
“Minet’s commitment and drive to incessantly adapt to changing market conditions, and to innovate to meet the unique insurance demands of the African continent, while maintaining the high standards customers have come to expect will continue to grow and give Minet a powerful competitive edge within the African market.” he concluded.
Commenting on what this development means for Kenya, Minet Kenya CEO, Mr. Sammy Muthui said, ‘’ The addition of Minet Botswana as an Aon Global Network Correspondent reinforces our commitment to investing in the region. As Minet expands its network and increases its capabilities, our clients can expect access to a rich global network bolstered by a strong capital base and expertise.’’
Minet Group is a well-known and trusted pan-African risk advisory firm and Aon’s largest Global Network Correspondent and has been rapidly expanding its African footprint since 2017 through the acquisition of operations from global professional services firm Aon in Kenya, Lesotho, Malawi, Mozambique, Namibia, Tanzania, Uganda, and Zambia. Minet has been delivering world class products and services across Africa for over 70 years.
Africa Lighthouse Capital (ALC), Minet’s partner in the Botswana acquisition, is a leading Botswana citizen-owned private equity firm focused on investing in Botswana companies and propelling them into regional champions, with over BWP 500 million in funds under management. This transaction significantly increases local citizen shareholding, enabling operations in Botswana to become even nimbler and better positioned to unlock new and existing growth opportunities.