Private equity firm, CaptalWorks, has completed the process of acquiring 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 thus far been obtained in Kenya, Lesotho, Malawi, Namibia, Uganda and Zambia, with the approvals for the remaining countries expected in the first quarter of 2018.
The new group will trade as Minet and will become Aon’s largest Global Network Correspondent. Aon employees in these countries as well as key senior leadership will remain part of the operations that Capitalworks is acquiring.
John Cullen, CEO of Aon Risk Solutions in EMEA said with Capitalworks, Aon Group had chosen to partner with an investor with a sound understanding of local market conditions, strong governance and operational experience.