[dropcap]P[/dropcap]rivate equity firm, CaptalWorks, has acquired AON’s shareholding across certain sub-Saharan operations and will now be operating as Minet Africa. The transaction spans across 10 countries and regulatory approvals have so far been obtained in Kenya, Lesotho, Malawi, Namibia, Uganda and Zambia, with the remaining countries expected to do so in the first quarter of 2018.
The new group will trade as Minet, a well-known and trusted brand across Africa, and will become AON’s largest Global Network Correspondent. AON employees in these countries as well as key senior leadership, who have extensive industry experience and knowledge of its clients’ operations, will remain part of the operations that Capitalworks is acquiring, ensuring leadership, continuity and stability.
Effectively, AON Kenya has rebranded to Minet Kenya following the structural change in shareholding. The launch of Minet Kenya was graced by South African and internationally renowned singer, Yvonne Chaka Chaka.
Below is a collection of what various stakeholder had to say about the acquisition through the hastag #AonisnowMinet
Garth Willis,
Minet Group’s Chairman and Principal at CapitalWorks, Garth Willis
“As the Chinese saying goes – if you want to go fast go alone, and if you want to far go together. Together we are going to go far. Capital Works philosophy is hinged on developing business through partnerships. Through Minet, we are looking forward to building on AON’s rich heritage in Africa as we move into the future. This partnership now positions Minet Group as a formidable force in Africa and provide our clients clear benefits.
Minet Group is proudly pan African and we embrace opportunities and possibilities the continent offers. We are looking forward to playing a meaningful role in continued growth in trajectory of the markets that we serve and to continue to create a better and more secure life for all as the largest risk and human capital advisor in the continent.”
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Joe Onsando, Minet Africa Chef Executive Officer
“The conclusion of this transaction marks a historic milestone for Minet Africa. Despite change of structure, we remain correspondence partner with Aon, meaning we still have dealings with AON by servicing its clients Africa as well as tapping into AON’s vast capital and human resources. We are in ten African countries but our intention is to expand our African presence to 30 countries with the West Africa as our primary target. This, we believe, will enable us tap into the growing opportunities in intra-Africa trade as such ventures require risk advisory services to succeed.”
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Sammy Muthui, Minet Kenya Chef Executive Officer
“Our offerings still remain the same but we also have a new brand promise – our ‘HEART’ – which is an acronym for Honesty- Expertise – Agility- Respect- Teamwork. We will continue to be Honest with our client in all our dealings, offering Expertise that meets our clients’ needs, by using our global knowledge and global understanding in providing locally relevant solutions to them. We will also continue to be Agile by being flexible and efficient in responding to needs of our customers.
We’ll remain Respectful as we continue to recognise, appreciate and embrace diversity in all its forms. More importantly, we will remain Team players as we bring together various specialization to bear for the benefit of our clients. The other promise we are making is to wait for our client in the future as we deploy technology and make use of researches to offer our clients more value as they grow with us into the future.”
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Godffrey Kiptum, Insurance Regulatory Authority Chef Executive Officer
“Congratulations to AON Kenya for your work in developing the insurance brokerage business in Kenya as you change to become Minet Kenya. Your service to the Kenyan market for the past 70 years as OAN and as Minet is a remarkable one and we thank you for having faith in this market. We want to reiterate that we’ll continue to offer our support to Minet Kenya as you deepen your engagement in the Kenyan market under Minet brand.
