OLEA, the Pan African insurance broker, has announced its agreement to acquire Marsh Uganda and Marsh Botswana, pending local regulatory approval.
The move follows a successful five-year collaboration between the two companies and aims to bolster OLEA’s presence in the African insurance market.
Since entering East Africa in 2019 with a 40% stake in Kenya’s Koolridge Insurance Brokers, OLEA has positioned Nairobi as a key hub for expansion into neighboring markets, including Uganda, Rwanda, and Tanzania.
The acquisition of Marsh Botswana and the merger of Marsh Uganda with OLEA’s existing operations in Uganda represent a significant step in OLEA’s growth strategy. It underscores the company’s commitment to providing tailored insurance solutions across the continent.
“We are excited to welcome the talented teams from Marsh Uganda and Marsh Botswana into the OLEA family,” said Olivier Canuel, OLEA Group CEO. “This acquisition not only enhances our presence in Africa but will strengthen our service offerings and expand our capabilities.”
Vincent de Charnacé, OLEA CEO for East & Southern Africa, added that the company will invest in local talent and resources to ensure a smooth transition and maintain high service standards.
Guy Royston, CEO of Africa Regional Operations at Marsh McLennan, expressed confidence in the partnership, stating, “Marsh Africa has enjoyed a strong and collaborative working relationship with OLEA. Subject to regulatory approval, I am pleased that they will be the new custodians of our offices in Botswana and Uganda.”
