[LISTEN] Patrice Motsepe’s ARC invests in Rain
Ray White, in for Bruce Whitfield on The Money Show, interviewed ARC's Johan van der Merwe.
JOHANNESBURG - Instead of paying its first dividend, billionaire Patrice Motsepe’s African Rainbow Capital Investments (ARC) will rather hunt for new investments.
Most notable was ARC’s acquisition of TymeDigital and an additional investment of R1.12 billion in data-only mobile network Rain. TymeDigital is South Africa’s first black-owned commercial bank.
ARC's Johan van der Merwe says: "At the beginning of the period, which was at the listing time 7 September 2017, we had about R8.5 billion in assets but only half of that was invested. The other half was cashed."
Listen to the audio above for more.