Professional risk consultancy firm Aon has started trading as Minet, the company said in a statement on Wednesday.
The company recently announced its decision to change the ownership structure of its operations across several sub-Saharan African countries.
The various conditions have now been fulfilled and, effective November 3, Aon’s shareholding across certain sub-Saharan African operations was transferred to Capitalworks.
The transaction spans across ten 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.
Aon employees in these countries, as well as key senior leadership, who have extensive industry experience, will remain part of the operations that Capitalworks is acquiring, ensuring leadership, continuity and stability for clients and colleagues alike.
Minet sub-Saharan Africa CEO Joe Onsando said the company was poised to benefit from Africa's growth and that the company would embrace new technology and innovation to expand its footprint in Africa.
“Our industry finally has its own Pan-African player with a diverse African footprint, owned and led by Africans,” he said.