NAMIBIA – Eos Capital, Namibian private equity firm launched the Nambob brand in the Namibian funeral services industry after acquiring and rebranding Namibia’s leading funeral services provider, Avbob Namibia.
According to New Era Live, Eos Capital obtained the requisite regulatory approval to acquire Avbob Namibia Holdings (Pty) Ltd, through its N$460 million (US$30.9m) Allegrow Fund in 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.
Eos Capital is an all-Namibian private equity fund manager led by former managing director 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 localisation 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.!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.
“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 MD Eslon Namuandi.