South Africa
OLEA South Africa
Managing Director
Richard Hood
Managing Director
Richard co-founded Apio Group in 2011, as an Independent Retail Insurance Broker focused on providing risk and insurance solutions to business enterprises. In 2017, the Apio Group increased its capacity by establishing Apio Wealth with a focus on Financial Planning, Employee Benefits and Life Insurance. Prior to that, Richard held executive management positions at Alexander Forbes (now Marsh) and Econorisk. Richard has consulted to a diverse range of businesses in South Africa in mining, energy, information technology, hospitality and manufacturing. In 2021, Apio Group became part of the OLEA Group of companies and as of 31 July 2023, Apio Group rebranded to OLEA South Africa.
The Subsidiary
| Date Established | 2011 |
|---|---|
| Employees | 56 |
| Address | Head Office: 6 Georgian Crescent West, Bryanston |
| southafrica@olea.africa | |
| Website | https://www.olea.co.za/ |
| Languages | English |
Some Key Figures
Country population: 62 Million (2023 census)
GDP per Capita: $6,006.45 (2023)
GDP growth in 2023: 0.6 %
GDP growth in 2024: 1.3 % (forecast)
Regional economic and political power with a large and young population
Wealth in natural resources (gold, platinum, coal, chrome, rare metals, oil, etc.)
Developed financial market
Floating exchange rate regime, independence of the Central Bank
Healthy banking system
Public debt mainly in rand and long maturity (12 years on average)
Solid institutions and independence of the judiciary
Market size: 50.7 Million USD per year
Insurance penetration rate: (as % of GDP) 13.7%