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.
Minet Group CEO, Mr Joe Onsando said this acquisition is significant to its 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,” Onsando said.
He said the transaction significantly adds to the diversity and skills base of its team and will have a positive impact on the range of products and services it provides. “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,” he added. “This is a very exciting time to be Minet in Africa.’’
He said Minet’s commitment and drive to incessantly adapt to changing market conditions, and to innovate to meet the unique insurance demands in Africa gives it a powerful competitive edge.
Minet Kenya CEO, Mr Sammy Muthui said the addition of Minet Botswana as an Aon Global Network Correspondent reinforces its commitment to investing in the region. As Minet expands its network and increases its capabilities, he said, “clients can expect access to a rich global network bolstered by a strong capital base and expertise.”
Minet Group is a well-known and pan-African risk advisory firm and Aon’s 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.
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.