African Rainbow Capital acquires 18.14% stake in Metrofibre Networx

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African Rainbow Capital, led by Africa’s billionaire businessman Patrice Motsepe, has acquired an 18.14% stake in Metrofibre Networx.

Metrofibre Networx, established in 2010, is a South African owned open access fibre network and broadband fibre providr.

African Rainbow Capital (ARC) is a subsidiary of Ubuntu-Botho Investments (UBI), a broad based black empowerment investment holding company.

UBI was created in 2004 with its main purpose of being Sanlam’s empowerment partner.

The African Rainbow Capital Directors include Patrice Motsepe, Johan van Zyl, former Sanlam and ABSA Bank CEO and Johan van der Merwe, former Sanlam Investments CEO.

“We believe that through our new partnership with African Rainbow Capital and the capital injection their investment into our business provides we will be able to further grow and expand our network and service offerings,” says Steve Booysen, Metrofibre Networx CEO.

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 16 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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