As published in the Minet @5 supplement on November 28th 2022
Businesses need insurance, since it helps to manage risk associated with their business. Without it, business owners may have to pay out-of-pocket for costly damages and legal claims against their company.
Minet Limited as a key risk advisor and licensed insurance brokerage has over the years positioned itself as the preferred risk advisor by some of the major international, multinational, and indigenous corporate entities in the economy.
The firm is celebrating five years following the transition from Aon in 2017.
This comes at the heels of 75-year legacy celebrations on presence in Africa. Established in 1947, as JH Minet, it has grown to become one of Africa’s trusted risk advisors and Aon’s largest Global Network Correspondent.
During this period, they have delivered risk, reinsurance, and human capital solutions to Africa’s business fraternity.
“With truly Pan-Affrican capabilities, we are proud to have an extensive network of affiliates throughout Africa consisting of Minet-owned offices in Botswana, Kenya, Lesotho, Malawi, Mozambique (Minseg), Namibia, Tanzania, Uganda, and Zambia” said Edward Nambafu, the firm’s Chief Executive Offficer.
Nambafu said their partnership with Aon is an affirmation of the tireless efforts their team has put into building and growing the company into Africa’s number one leading risk advisory firm whilst also insuring the health and livelihoods of millions of people across the continent.
“As has been the case through the years, our focus will remain on offering a broad range of innovative and integrated risk and human capital solutions and a flexible service-driven culture” he said, adding “We can assure you of our continued commitment to offering locally relevant, market-leading, and fit-for-purpose solutions to ensure our clients thrive in today’s uncertain times.”
With its expanding mandate, Minet has undoubtedly become a trusted risk advisor, as it continues to provide unique solutions and personalised services, enabling their clients to identify, quantify, and manage risk exposures and meet the future in more predictable ways.
Truly Pan African
Joe Onsando, Minet Group CEO said that in 1997, the leading global professional services firm Aon, as part of their global expansion strategy, acquired JH Minet’s African operations and changed the company name to Aon.
The year 2017 saw private equity firm Capitalworks, alongside management, acquiring Aon’s shareholding in several African operations and the reinstatement of the brand name Minet in Kenya, Lesotho, Malawi, Mozambique, Namibia, Tanzania, Uganda, and Zambia.
This change also saw the signing of a Global Network Correspondent Agreement with Aon, ensuring the company continued to service Aon’s multinational clients in Africa.
Commenting on the ever-increasing need for risk advisory services, Onsando said “in today’s highly volatile world, risk is ever present: pandemics, environmental risk (adverse weather events and natural catastrophes), technological risk (cyber-attacks and data breach), and socio-political risk (riots and terrorist attacks) are just a few from a long list of risks that people and organisations are faced with.
“As we are more interconnected than ever before, the impact of such risks is increasingly severe. An event happening halfway across the world can disrupt supply chains and impact a local business as was clearly evidenced by the Covid 19 pandemic”.
The world is going through a paradigm shift on many levels, and the importance of professional, qualified, and forward-looking advice has become crucial in securing financial security for businesses.
Managing risks and costs is imminently more critical as the inter-connectivity of traditional and emerging risks means that organisations can no longer evaluate individual risks in isolation.
“Our clients benefit from the deep expertise and vast knowledge Minet has to offer. Our team is able to access global skills and capabilities and to deliver locally relevant, market-leading, and fit-for-purpose solutions to ensure our clients can thrive in today’s uncertain times”, said Onsando.
He said they continue to provide unique solutions and personalised service , ultimately enabling their clients to identify, quantify and manage their risk exposure and meet the future in more predictable ways”.
Minet established the Minet Foundation which was founded to play an active role in improving the lives of the people in the communities in which they operate. The foundation focuses on education, health care, and building sustainable communities and is aimed at making a lasting and measurable impact.
A number of corporate social responsibility projects have been undertaken in the past few years which include support to St Anthony school of the deaf, Kayabwe among others.