Adenia buys majority stake in Minet from Capitalworks
Minet provides insurance brokerage, risk advisory, and employee benefits services across nine African markets.
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Adenia Partners, a private equity firm focused on growth opportunities in Africa, has acquired a majority stake in Minet Group, one of Africa’s largest independent insurance brokerage and risk advisory firms. The stake was acquired from Capitalworks. The transaction completed on 30 June 2026 following receipt of all required regulatory approvals. Financial terms were not disclosed.
Minet provides insurance brokerage, risk advisory, and employee benefits solutions to a diverse base of clients, including corporates, SMEs, and institutions across nine African countries: Botswana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Tanzania, Uganda, and Zambia. Prior to its acquisition by Capitalworks in 2017, Minet was part of Aon, the global insurance broker.
“We are pleased to have completed this investment in Minet, a business that aligns closely with our strategy of partnering with high-quality, high-performing African companies,” said Martha Osier, a partner at Adenia. “There’s a generational opportunity to build scalable, technology-driven insurance models that meet the needs of young and urbanising populations in many parts of Africa, which Minet is well-positioned to capitalise on. Our goal is to support the management team in this phase of growth, implement operational and sustainability-linked best practices, and extend the company’s leading position in markets across the continent.”
Garth Willis, managing partner at Capitalworks commented: “Capitalworks has been proud to partner with the management team in building the Minet business into what it is today. The transaction is a testament to how active private equity partners alongside experienced management teams can unlock significant growth potential in leading businesses and facilitate the introduction and successful transition to new shareholders.”
** Read more: The French serial entrepreneur who became a private equity investor in Africa Alexis Caude, managing partner of Adenia Partners, discusses his entrepreneurship journey, his investment successes in Africa, and how he manages his personal money. Watch/read the interview here
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