21 Feb 2022

 Aleyo Capital, a Botswana based Private Equity firm with experience in private equity, venture capital, mezzanine debt, development finance and corporate finance has entered into a partnership with First Mutual Holdings Limited (FMHL).
Speaking at the partnership’s  signing ceremony in Gaborone on Friday, Aleyo Capital managing director, Mr Bafana Molomo said partnering with an experienced entity in the insurance industry was a great achievement.
He said the P61m that FMHL injected into Aleyo would assist the company to recapitalise the reinsurance businesses and support regional growth initiatives.
Mr Molomo said Africa Aleyo successfully concluded more than P2.5bn worth of deals in Botswana, South Africa, Namibia, Mozambique, Tanzania and Zimbabwe.
FMHL is a Zimbabwean company whose interests were predominantly in insurance, finance listed on the Zimbabwe Stock Exchange (ZSE) and has restructured its reinsurance businesses in Zimbabwe and Botswana.
For his part, the CEO of FMHL group, Mr Douglas Hoto said the two reinsurance businesses sought to enhance their underwriting capacities and improve their security profiles through a series of transactions that would ultimately result in a competitive and adequately capitalised regional reinsurers with favourable profiles poised for business growth.
He said as part of its growth strategy, FMHL was re-organising its business and intended to set up a holding company to consolidate its Botswana and Zimbabwe reinsurance operations and drive business into the SADC region and beyond. Mr Hoto stated that the first step was for FMHL to move both its reinsurance subsidiaries into a reinsurance holding company based in Botswana, which would be called First Mutual Reinsurance Holdings.
Managing director of FMRH  Mr Bongani Muhau said the partnership would result in one of the strongest and most competitive reinsurance businesses in Africa and would help the business expand to East and West Africa. ENDS