Chedid and GML to launch East African broker

Broker Chedid Capital and Mauritian conglomerate GML have partnered to launch a new venture in East Africa and the Indian Ocean.

The new insurance broker, GML-Chedid& Associates East Africa, will be incorporated following a year of discussions between GML and Chedid Capital.

Arnaud Lagesse, the chief executive officer (CEO) of GML, said: “We are indeed proud to join forces with Chedid, a renowned company. Everyone is talking about Africa and we happen to have a sound experience of doing business on the continent.

“This new venture will allow us to tap into the lucrative markets in East Africa whilst relying on Chedid’s expertise and GML’s proximity and knowledge of the earmarked regions. Added to this is the availability of talent in Mauritius as well as the fantastic resources and current infrastructure, which cannot be overlooked.”

Farid Chedid, the founder and CEO of Chedid Capital, added: “We are overjoyed to join forces with a prominent group such as GML for entering the East African market. We are confident that by coupling our established expertise with GML regional presence, we would succeed in delivering highly innovative insurance solutions to an expanding number of corporations and SMEs in the region, across an increasing number of insurance lines that would be covering major rising economic sectors in East Africa such as energy, construction, marine and others.”