BizNis Africa
Latest News
South African Reserve Bank appoints new advisor for governors
The South African Reserve Bank (SARB) has appointed Fundi...
Deloitte Africa unveils 2018 Outlook for Emerging Market insights
The year 2017 saw Emerging Markets (EMs) become the...
African Real Estate demand soars
Demand for investment in African real estate is expected...
deVere Group launches cryptocurrency app in South Africa
A cryptocurrency app is to be launched by one...
African Economic Outlook 2018 officially launched in Côte d’Ivoire
The African Development Bank (AfDB) has officially launched the...
How to make the tax act work for you
South Africa has a highly favourable tax environment for...
Vumile Msweli
Vumile Msweli is the Chief Executive Officer at Hesed...
Royal Bafokeng Platinum gets approval for Maseve mine acquisition
Royal Bafokeng Platinum (RBPlat) announced today, 17 January 2018,...
Ghana fast tracks EMV migration
Gemalto, a digital security company is providing its PURE...
ICRC and Tony Elumelu Foundation empower Nigerian entrepreneurs
The International Committee of the Red Cross (ICRC) and...

Dr Johan van Zyl, Dr Patrice Motsepe and Mr Johan van der Merwe at ARC Investments listing at the JSE, Johannesburg, South Africa

African Rainbow Capital Investments Limited, today, 7 September 2017 listed in the Speciality Finance Sector on the main board of the JSE.

African Rainbow Capital Investments (ARC Investments) is the 12thcompany to list on the JSE this year and brings the total amount of capital raised on the exchange to date in 2017 to just over ZAR76 billion.

Donna Nemer, JSE Capital Markets Director, says the JSE is privileged to assist ARC Investments in this chapter of its growth story.

“The listing of ARC Investments represents important progress in the transformation of the financial services sector and the JSE is proud to be able to aid in its growth through providing the company with access to deep pools of capital by means of a credible, liquid and well-regulated platform.”

ARC Investments is a capital raising and investment entity incorporated in Mauritius which will offer shareholders the opportunity to invest in a permanently broad-based black controlled investment entity holding a diversified portfolio of investments. The initial investment portfolio held by ARC Investments will be seeded by African Rainbow Capital Proprietary Limited (ARC), which will remain the majority shareholder in ARC Investments.

Shareholders will invest alongside ARC in this initial portfolio which comprises 16 investments in the financial services sector and 17 non-financial services investments. Its financial services investments include interests in Alexander Forbes Limited, Alexander Forbes Group Limited, Indwe Broker Holdings, Senayo Securities and Santam.

The portfolio also includes investments in agriculture and food production, building and construction, energy, information technology and telecommunications, investment holding companies and real estate businesses. Its most significant investment is in the telecommunications sector, through its 20% interest in Multisource Telecoms Proprietary Limited, currently trading as Rain.

ARC is a majority black-owned investment holding company which seeks to utilise its empowerment credentials, strong balance sheet and the track record of its leadership and brand to invest in financial services distribution businesses. ARC is wholly owned by Ubuntu-Botho Investments (UBI), which was created in 2003.

Patrice Motsepe, Ubuntu Botho Investments and ARC Chairman, says that the listing of ARC Investments on the JSE is a major step towards realising one of the key objectives of ARC, namely to build a world class broad- based black – controlled investment entity for all South Africans.

Nemer says the JSE is equally proud to help ARC Investments facilitate its goal of providing investment exposure for the public to B-BBEE assets, which are often only held privately.

The Speciality Finance Sector has a total market capitalisation of R108.8 billion and contributes 0.7% to the overall market capitalisation of the JSE.

Leave a Reply

Ver peliculas online
%d bloggers like this: