- As published by Kenya Television Services

Aon’s shareholding across some sub-Saharan countries has been transferred to Capitalworks with the operations expected to take effect from November 2017.

The insurance provider and human capital consultancy firm had announced in February plans to alter their ownership structure in its operations across the sub-Saharan region.

So far, regulatory approvals have been obtained in Kenya, Lesotho, Malawi, Namibia, Uganda and Zambia, with the approvals for the remaining countries expected in the first quarter of 2018.

Capitalworks is ensuring continuity of and stability of clients and colleagues and thus senior leadership will remain part of the operation to retain extensive industry experience and knowledge of clients in business.

The company that is eying on new technology and innovation to spread its wings to the rest in Africa, is expecting to benefit from Africa’s growth stimulated by sustained recovered in commodity prices, recovering global economy and increased hunger for investment in Africa from global investment.

Joe Onsando, CEO for Aon sub-Sahara Africa said that signing of the agreements marked a historic milestone for Africa.

“Our industry finally has its own Pan-African player with a diverse African footprint, owned and led by Africans,” said Mr. Onsando.

Minet Group’s Chairman, and Principal at Capitalworks, Garth Willis, said they would be working to build on the Aon heritage as a trusted partner to clients in protecting the future of their people and assets in Africa.

“We are specifically looking to take advantage of opportunities to find solutions for the various local market needs and securing Africa’s growing middle class,” Mr. Garth Willis said.

“Capitalworks is looking forward to partnering with the Minet management team that has grown the Group to be the largest risk and human capital advisory network on the continent,” he added.