Namibian private equity firm, Eos Capital, on Thursday launched the Nambob brand in the Namibian funeral services industry after acquiring and rebranding Namibia’s leading funeral services provider, AVBOB Namibia.
Eos Capital obtained the requisite regulatory approval to acquire AVBOB Namibia Holdings (Pty) Ltd, through its N$460 million Allegrow Fund on 9 July this year.
The rebranding exercise, which will span over a six-month period, will cover all 25 AVBOB branches spread across the country, including signage and vehicles, which will now carry the Nambob brand.
The new brand, which has deliberately retained the green colour synonymous with the previous brand, but added a characteristic dandelion theme, is expected to reposition the business in terms of what it stands for in the Namibian market.
Eos Capital is an all-Namibian private equity fund manager led by former Managing Director (MD) of Old Mutual Africa, Johannes !Gawaxab, who serves as MD, Nicole Maske, who brings significant strategic and financial experience serving as partner value add, and Ekkehard Friedrich as a partner spearheading investments.
Friedrich says the decision by the company to go with the Nambob brand, was influenced by the need to build on the existing brand identity, while communicating the Namibianization of the business.
As part of the localization of the business, Nambob aims to provide tailormade funeral solutions, which will cater to the diverse cultures found in Namibia, while placing a strong emphasis on celebrating
the life of the departed. Mr. !Gawaxab stresses the importance of understanding the different customer needs in the many cultures of Namibia and positioning the business to deliver on those needs.
To improve the customer experience through the investment made by Eos Capital, Nambob will roll out various operational improvement initiatives, as it moves to position the business as the leading brand in the Namibian funeral space.
Among the initiatives to be introduced will be the use of technology in the business, bringing convenience and efficiency in its operations, with a dedicated website and social media platforms expected to be rolled out soon.
“We want to get closer to the customers and to change the field of the business, from being associated with death, to a celebration of life. We’ve brought in industry experts with many years of experience to really pinpoint areas of improvement,” says Friedrich.
According to Friedrich, the business plans to offer funeral insurance as a growth area for the business.
“We can grow the business from the substantial base that we already have. The Avbob brand is very well known and we will try and retain as much as we possibly can and build on it to grow the business and thereby create employment opportunities and in the process contribute to the country’s economic growth.” The firm will continue to be led by current Managing Director, Eslon Namuandi.
Emerging Markets Private Equity Association ranked Eos Capital as one of the top deal makers in Sub-Saharan Africa in 2016.