OLEA expands in Africa by acquiring Marsh Uganda and Botswana, enhancing its footprint, services, and commitment to local markets.

OLEA, a Pan-African insurance broker, has announced a significant expansion in its African operations with the acquisition of Marsh Uganda and Marsh Botswana, pending approval from local regulatory authorities. This strategic move marks a major milestone in OLEA’s growth strategy, enhancing its presence across the continent and strengthening its service offerings.

OLEA’s Entry into East Africa

OLEA, headquartered in Paris, first entered the East African market in 2019 through the acquisition of a 40% stake in Kenya’s Koolridge Insurance Brokers. This investment positioned Nairobi as a strategic launchpad for OLEA’s operations in Uganda, Rwanda, and Tanzania, where the company already had a strong commercial presence.

Strategic Acquisition and Merger Plans

The latest development involves the full acquisition of Marsh Botswana and the merger of Marsh Uganda with OLEA’s existing operations in Uganda. Olivier Canuel, OLEA Group CEO, expressed enthusiasm about the acquisition, stating, “We are excited to welcome the talented teams from Marsh Uganda and Marsh Botswana into the OLEA family. 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 and Southern Africa, emphasized the company’s commitment to local markets, noting that OLEA will invest in local talent and resources to ensure a seamless transition and continued excellence in service delivery.

Marsh McLennan’s Perspective

Guy Royston, CEO of Africa Regional Operations at Marsh McLennan, highlighted the strong partnership between Marsh and OLEA. “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 the leading insurance broker in Africa, Marsh remains committed to the region and will continue to deliver exceptional value and innovative solutions to help our clients manage the risks they face.”