Minet Group and Africa Lighthouse Capital, partners in the joint acquisition of Aon’s shareholding in Aon Botswana, celebrated and unveiled the new brand identity to conclude the transaction and transition to Minet Botswana.
The event follows the prior announcement of May 20th, 2021 that regulatory approval had been obtained for Minet Group and Africa Lighthouse Capital (ALC) to acquire Aon’s shareholding in Aon Botswana, effective June 1st, 2021.
The new brand, presented live to a few key stakeholders in compliance with Covid-19 protocols, was attended by Joe Onsando (CEO, Minet Group), Bame Pule (Founder and CEO, Africa Lighthouse Capita), Barnabas Mavuma (MD, Aon Botswana), the media and the Guest of Honour Mr Sriram Gade (Deputy CEO, Non-Bank Financial Institutions Regulatory Authority NBFIRA).
At the same time, staff, clients, and stakeholders joined the live broadcast of the event through virtual platforms.
Minet Botswana inherits deeply rooted respect by its clients for their innovative and locally relevant insurance, pension administration and employee benefits solutions, their responsiveness, and their efficient processes.
Furthermore, Minet Botswana has the benefit of consistency in leadership and management, with Barnabas Mavuma, previously Managing Director of Aon Botswana, continuing to lead the business as the MD supported by the local management team.
Minet Botswana now joins the Minet Group, a well-known and trusted pan-African risk advisory firm which has been rapidly expanding its African footprint since 2017 through the acquisition of Aon’s operations 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.
Consequently, and similar to the other members of the Minet Group, Minet Botswana becomes an Aon Global Network Correspondent, retaining its access to Aon’s resources, technology, and best practises, combined with the benefit of independent, local agility.
“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,” says Joe Onsando, CEO at Minet Group.
“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 that uniquely position 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.”
This transaction furthermore significantly increases local citizen shareholding, enabling operations to become even nimbler and better positioned to unlock new and existing growth opportunities.
Africa Lighthouse Capital (ALC) 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.
Clients of Minet Botswana will experience continuity of product and service delivery standards they’ve come to expect.
In the near future, they can expect enhanced offerings that combine agility with technology and product innovation, tailormade for their specific local needs.
“The significantly increased Botswana citizen shareholding effected by this transaction gives rise to an exciting era of local market focus and growth for Minet Botswana,” says Bame Pule, Founder and CEO of Africa Lighthouse Capital.
“We intend to work with Minet Botswana’s local management team to further localise the business in terms of product development, while at the same time investing in local skills development and business development. We look forward to this exciting journey, which will result in a significantly enhanced service offering for Minet Botswana’s clients.”
Together, Minet and ALC bring a sound understanding of local market conditions, strong governance, and an established track record in the region. These qualities, combined with Aon’s global capabilities and expertise, will bring clear benefits for clients.
“We will build on what has given Minet a powerful competitive edge within the African market by continuously adapting to changing market conditions and innovating to meet the unique insurance demands of the African continent. We shall maintain – and exceed – the high standards Botswana customers have come to expect” Onsando concludes.
Minet is a trusted pan-African risk advisory firm that meets the uncertainties of tomorrow by delivering risk and human capital solutions today. As the largest Aon Global Network Correspondent, Minet has access to a network of over 50,000 colleagues in 120 countries as well as to proprietary data, research and analytics which enable us to provide clients with an unrivalled advantage. Funded by Capitalworks, a leading pan-African private equity investor, Minet Group has been rapidly expanding its African footprint and is currently present in 8 Sub-Saharan countries: Kenya, Lesotho, Malawi, Mozambique (Minseg), Namibia, Uganda, Tanzania, and Zambia.
Africa Lighthouse Capital is a Botswana-headquartered private equity firm with investments and operations in Botswana, South Africa, Nigeria, and Mauritius. Africa Lighthouse Capital provides financial and intellectual capital to growing companies and partners with their management teams to significantly expand the businesses into African champions through value-creating initiatives including acquisitions, organic growth, talent development and succession planning, operational enhancements, and the structuring of efficient financing.
In Botswana, Africa Lighthouse Capital manages a private equity fund on behalf of local institutional investors and pension funds for investment in leading companies in Botswana and the rest of Africa.