Press Release: Maksure Risk Solutions Expands South African Footprint with Merger & Acquisition of Master Business Associates Risk Advisory Services.
Johannesburg, South Africa, 15 September 2025 – Maksure Risk Solutions, an afro-global insurance and reinsurance broking firm headquartered in Johannesburg, today announced the merger & acquisition of Master Business Associates Risk Advisory Services (MBA), a leading South African retail insurance broker with a strong presence in the personal, commercial, and trucking markets.
Founded in 2019, MBA operates across all nine provinces of South Africa, with a major footprint in Gauteng and KwaZulu-Natal. The firm has built a reputation for deep expertise in the trucking insurance sector, one of the most dynamic and critical segments of the South African economy.
This strategic merger & acquisition marks a significant milestone in Maksure’s ambition to scale its influence in specialist insurance markets, particularly trucking. Maksure already offers value-added products in this sector, including cross-border trucking solutions and Yellow Card, a regional third-party insurance solution.
Since its establishment in 2013, Maksure has grown into a firm of over 140 insurance and reinsurance experts. The addition of MBA enhances Maksure’s footprint, credibility, relevance, and capabilities within South Africa and strengthens its ability to deliver innovative solutions across both life and non-life insurance segments; serving individuals, SMEs, corporates, and insurers alike.
The acquisition follows a strategic mandate by the Maksure Group Board to accelerate Mergers and Acquisitions (M&A) activity in 2025, with a target of driving over USD 350 million in new premiums within the next three years. Half of this investment will be allocated to South Africa, with the balance targeted for Europe, Southeast Asia, and the Americas.
Simba Makwembere, Managing Director of Maksure Risk Solutions, said:
“At Maksure, we firmly believe that delivering the best outcomes for our clients requires strong, local expertise in our chosen markets. MBA brings exceptional know-how and shares our rich heritage of innovation and resilience. Together, we will deepen our strength in the trucking sector while expanding a full suite of solutions, from alternative risk transfer and reinsurance to retail insurance. This is a transformational move for Maksure, and it reinforces our long-term commitment to serving clients in this dynamic market and beyond.”
Oscar Chimbwanda, Managing Director of MBA, added:
“Over the past five years, MBA has grown steadily thanks to the dedication of our employees and the loyalty of our clients. Joining Maksure marks an exciting new chapter, combining MBA’s deep sector expertise with Maksure’s global reach and product innovation. This partnership positions us to become an even more trusted and valued insurance group, delivering solutions that clients love and rely on.”
Knight Mawere, Chief Operating Officer at Maksure Risk Solutions, commented:
“Maksure and MBA are united by a shared culture of independence, innovation, and client-first thinking. Together, we will strengthen our ability to provide optimal solutions while building enduring trust with our clients. I look forward to working closely with the MBA team to unlock new opportunities for growth.”
With this merger & acquisition, Maksure reinforces its reputation as one of Africa’s most influential independent brokers, extending its capacity to provide specialist expertise, innovative risk solutions, and unmatched local knowledge; while driving long-term value for clients, partners, and markets worldwide.
Contact our team on Tel: 011 805 0086 or email info@maksure.co.za
About Maksure Risk Solutions
Maksure Risk Solutions is an Afro-Global independent specialist insurance and reinsurance broker with business footprint in Africa, Asia, East & Western Europe, South America and the Caribbean. We provide innovative and tailor-made risk solutions in Insurance and Reinsurance as well as Risk Financing and Actuarial Consulting geared towards capital management and strengthening our client’s balance sheet. Maksure is also one of the major players in Captive Management (Establishment & Management) in South Africa, Mauritius, Bermuda and various other jurisdictions. We have access into the Lloyds of London with a deep understanding of African markets. Our global nature ensures that our clients access quality capacity as well as some of the world’s latest thinking and solutions.
