OLEA Group expands and acquires two new subsidiaries – Mali and Uganda

04 Dec 2023
By Olea Group
2024 2023 2022 2021

On 6 October this year, OLEA opened a subsidiary in Mali and another in Uganda on 7 November. This increases our presence in both West and East Africa substantially. These new acquisitions demonstrate our commitment to the growth and development of the insurance industry on the African continent.

Founded in 2017, OLEA is a Pan-African insurance broker operating in 25 countries with majority-owned subsidiaries and a complementary network of 13 partner brokers. OLEA offer services and solutions to companies investing in Africa and international brokers who do not have a presence on the continent.

Let’s begin with Mali – the eighth-largest country in Africa

Olivier Canuel, Group CEO of OLEA, expressed his delight with this strategic expansion. “The opening of our new subsidiary in Mali is a vote of confidence by our Malian and international clients operating in a wide variety of sectors (mining, industry, hotels, etc.). It is also a promise to accompany them wherever they invest, guaranteeing them the equivalent superior standard of service, professionalism, and proximity to cover their insurance needs”.

It was evident that OLEA Mali needed to re-establish itself after years of relying on its Bamako-based historical partner. Innovative tools and access to a broad selection of tailor-made insurance products will enable OLEA’s new subsidiary to implement its fully digitalised health management solutions, for the people of Mali.

The opening of the new subsidiary, located in Bamako’s Ali Baba Building, represents a significant development for OLEA’s expansion into Africa. Ibrahim Diakité, a seasoned insurance industry professional, with an in-depth understanding of the local market, will oversee OLEA Mali.

Uganda – The Pearl of Africa

Vincent de Charnacé, CEO of East and Southern Africa, is thrilled at the strategic expansion into Uganda. “Our presence in Uganda allows us to cover the main countries of East Africa and gives our clients access to one integrated network, OLEA, with a regional presence to look after their interests. The promise to clients remains the same: A professional service and the same service excellence offering value added insurance, tailor-made for their needs”.

Paul Muhame, a highly respected industry professional with an in-depth understanding of the local market, will head up OLEA Uganda.

Through the use of innovative tools and access to a broad selection of tailored insurance products, our new subsidiary will allow OLEA to implement its fully digitalised insurance solutions for the benefit of the community in Uganda.

The addition of these two countries represents the beginning of further expansion by OLEA on the continent and consolidating our position as the largest integrated Pan-African network with 25 subsidiaries.