Oct 05, 2011
AON SA to sell stake to black investorsBack
© Reuse this
Vurhonga Consortium comprises the Tamela Consortium and Precious Prospects, a women’s group.
Aon South Africa chairperson and CEO Anton Roux said the deal was a positive move towards broad-based empowerment, particularly with the strong female ownership within the consortium.
He said the company would continue to target strong growth in the public and corporate sectors, areas which it believed Vurhonga Consortium could use their expertise.
Vurhonga Consortium chairperson Vusi Mahlangu was pleased to pursue new growth areas after a period of acquisitive growth in the country.
Aon South Africa has engaged in a strong growth strategy in recent years, in which it has acquired QED Actuaries & Consultants, Shield Financial Services, Heritage Insurance Brokers, Pennant and Pinion Insurance Brokers and more recently, Glenrand MIB.
Roux said transformation would continue to play an important part of the company’s growth strategy in South Africa.
It is expected that the transaction will be concluded by the end of October.
Precious Prospects chairperson Dr Namane Magau will resign from her position on the Santam board before joining the board of Aon South Africa.
Vurhonga Consortium’s Makole Maponya and Mahlangu will serve as its representatives on the board of Aon South Africa.
Edited by: Mariaan Webb© Reuse this Comment Guidelines (150 word limit)
Creamer Media Senior Researcher and Deputy Editor Online
Updated 36 minutes ago Rail parastatal PRASA launched a dramatic court action this week to recover from one of South Africa's biggest ever tender debacles involving billions of rand‚ the newspaper reported. The Passenger Rail Agency of South Africa wants the Spanish company that provided...
Updated 52 minutes ago South Africa's trade deficit widened more than expected to R21.39-billion ($1.5-billion) in October from a revised R1.26-billion shortfall in September, the national revenue agency said on Monday. Exports decreased by 6% to R86.35-billion, while imports jumped by...
Updated 59 minutes ago Durban’s proposed “dig-out” port will eventually become a reality, but has been put on the back burner for the moment, with the Transnet Port Authority’s (TNPA) CE declining to even set a date. Richard Vallihu, speaking at a business-to-business breakfast, said: “For...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
This Week's Magazine
The BMW Group will invest R6-billion at BMW Group South Africa’s (BMW SA’s) Rosslyn plant to produce the next-generation X3 sports-activity vehicle (SAV) for the local and export markets. Rosslyn will continue production of the current 3 Series through its lifecycle,...
The lack of consequences for poor performance and transgressions on the part of contractors remains a significant hurdle to tackling South Africa’s service delivery challenges, delegates heard at the Consulting Engineers South Africa Infrastructure Indaba, on...
City of Ekurhuleni executive mayor Mondli Gungubele earlier this month officially named the city’s bus rapid transit (BRT) system, Harambee.
About 58% of unstructured data stored by companies is dark data, which means that the value or regulatory importance of the data has not been determined. Subsequently, most of the stored data add costs, rather than increasing revenue or reduce regulatory risks, says...
Effective logistics, import/export and manufacturing consulting services require detailed industry knowledge and experience, but can add significant value to these industries by providing expert advice on various technical elements in their value chains, says...