Aon Botswana rebrands to Minet Botswana
Citizen participation in the pension industry is expected to rise after risk advisory group Minet and Africa Lighthouse Capital (ALC) satisfied all requirements to acquire shareholding in Aon Botswana.
According to a statement issued to the media, Aon Botswana will begin the process to rebrand to Minet Botswana, as regulatory requirements have been satisfied. “The significantly increased Botswana citizen shareholding affected by this transaction gives rise to an exciting era of local market focus and growth for Minet Botswana,” says Bame Pule, Founder and Chief Executive Officer 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,” said Pule.
Africa Lighthouse Capital (ALC) is a local private equity firm focused on investing in Botswana companies and propelling them into regional champions, with over P500 million in funds under its management. Chief Executive Officer at Minet Group, Joe Onsando said the transaction affirms the company’s belief that Africa has great opportunities for growth, driven by rising consumer demand, huge investment in infrastructure and quick adoption of new technology. “Our correspondent agreement with Aon gives us access to global expertise and data driven insights and uniquely positions us to deliver risk advisory solutions
Africa Lighthouse Capital (ALC) is a local private equity firm focused on investing in Botswana companies and propelling them into regional champions, with over P500 million in funds under its management
that reduce volatility, thus driving improved performance for our clients,” said Onsando.
Minet Group is a 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. The new investors believe that the transfer of equity interests in Botswana to investors with local and regional expertise, presence and commitment will allow the businesses to move quickly in line with market movements, and to introduce products that are tailored to the local market. Meanwhile, Barnabas Mavuma, previous Managing Director of Aon Botswana, continues to lead the business as the MD, supported by the local management team.