OLEA expands African footprint with Marsh Botswana and Marsh Uganda acquisition
OLEA, a leading Pan-African insurance brokerage firm, has announced its plans to acquire Marsh Uganda and Marsh Botswana, pending regulatory approvals in both countries. The move marks a significant expansion for OLEA as it strengthens its presence across the continent and reinforces its commitment to providing top-tier risk management solutions tailored to African businesses.
The acquisition comes after five years of successful collaboration between OLEA and Marsh Africa, a subsidiary of global insurance giant Marsh McLennan. With this strategic move, OLEA will integrate Marsh Botswana fully into its operations while merging Marsh Uganda with its existing Ugandan entity, further consolidating its footprint in East and Southern Africa.
Headquartered in Paris, OLEA entered the East African market in 2019 through the acquisition of a 40 percent stake in Kenya’s Koolridge Insurance Brokers. At the time, Nairobi was identified as a critical gateway for OLEA’s regional expansion into Uganda, Rwanda, and Tanzania, where the company has since established a strong commercial presence.
With the acquisition of Marsh Botswana and the integration of Marsh Uganda into its existing business, OLEA is positioning itself as a dominant player in Africa’s insurance brokerage sector, catering to businesses with innovative and comprehensive risk management solutions.
“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 strengthens our service offerings and expands our capabilities. We are committed to delivering tailored insurance solutions that meet the evolving needs of businesses in these strategic markets.”
Vincent de Charnacé, CEO for OLEA East & Southern Africa, echoed these sentiments, emphasizing the company’s commitment to local talent and resources. “OLEA will invest in people and infrastructure to ensure a smooth transition and uphold our reputation for excellent service delivery.”
While Marsh McLennan is transferring ownership of its Botswana and Ugandan operations to OLEA, the company remains dedicated to serving the African market.
Guy Royston, CEO of Africa Regional Operations at Marsh McLennan, stated: “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. As Africa’s leading insurance broker, Marsh remains committed to delivering exceptional value and innovative solutions to help our clients navigate their risks.”
Africa’s insurance industry has seen steady growth, driven by rising business activity, infrastructure development, and an increasing need for risk management solutions. The insurance penetration rate in many African nations remains relatively low compared to global standards, presenting a significant opportunity for brokerage firms like OLEA to bridge the gap and provide tailored solutions to businesses.
OLEA’s expansion aligns with its broader strategy to build a dominant pan-African brokerage network, offering localized expertise backed by global best practices. The company now operates in multiple African markets, providing corporate clients with a wide range of insurance solutions, including risk advisory, employee benefits, and specialty coverage.
With the acquisitions of Marsh Uganda and Marsh Botswana, OLEA is set to strengthen its leadership in the African insurance sector. The deal reflects the company’s long-term vision of becoming the go-to insurance broker for businesses across the continent.