Maseru – Minet Lesotho, previously AON Lesotho, on Monday launched its Risk, Insurance and Human Resources Advisory Operation, marking the beginning of an enhanced offering to support the Lesotho and greater African market.
The launch boasted entertainment by Yvonne Chaka-Chaka, and the presence of government officials and Chief Executive Officers from the stakeholders and follows an official announcement AON made in February this year to change the ownership structure of its operations across several sub-Saharan African countries.
It features a partnership with Capital Works as a leading Africa focused private equity firm that will be acquiring AON’s shareholding in 10 employee benefits, insurance and reinsurance brokerage operations in selected countries across Africa.
During the launch, the company outlined its vision and plan to build on the existing rich heritage of a well known and trusted brand across Africa to continue offering a broad range of innovation and relevant risk and human capital solutions to its clients.
The transaction spans across 10 countries and regulatory approvals have thus far been obtained in Lesotho, Namibia, Kenya, Malawi, Uganda and Zambia with approvals for the remaining countries expected in the first quarter of 2018.
The new group will trade as Minet but it is anticipated to become AON’s largest Global Network Correspondent and AON’s employees in these countries as well as key senior leadership who have extensive industry experience and knowledge of clients’ operations will remain part of the operations that Capital Works has acquired, ensuring leadership continuity and stability for clients and colleagues alike.
At the launch the Deputy Principal Secretary of Finance, Mrs. ‘Malisebo Mokela congratulated the 70 year journey, saying they have witnessed the opening and closure of many businesses in the sector and yet AON has stood the test of time in becoming a legend in the Africa Insurance landscape.
Minet Lesotho’s Chief Operations Officer, Mr. Rets’elisitsoe Leboela said Minet Group has 890 employees, 27 of which are in Lesotho, making it an important market for Minet’s growth in Africa, adding that they look forward to unlock growth in the sector by leveling the cutting edge technology and delivering solutions to customers’ challenges.
Minet Group Africa Chief Executive Officer Mr. Joe Onsando said the Africa leadership team started in Kenya with a Pan Africa launch of the new brand and moved to Uganda, thus making Lesotho third country to launch, making her one of Africa’s premier in Risk Advisory, while Chairman of Capital Works Mr. Garth Willis meanwhile said the company’s philosophy is centered on building exceptional businesses through partnerships and this launch certainly pays testament to the philosophy as they have partnered with a company that has a heritage extending beyond 70 years.