ON THE SPOT
African Rainbow aims to make pots of gold for investors by listing on JSE
Former Sanlam CEO Johan van Zyl and former Sanlam Investments CEO Johan van der Merwe have been in a deal-making frenzy since leaving their alma mater to run Patrice Motsepe’s empowerment investment venture African Rainbow Capital (ARC). Such has been the interest in ARC Investments that they have decided to list it on the JSE next month – three years ahead of schedule. Business Day spoke to Johan van Zyl. You don’t have to list so why are you doing it? You run out of runway. On the nonfinancial side we actually got many more opportunities than we initially thought and you can just turn away and focus on a few narrow financial ones. But there are great things available so we thought, why not use part of our money but make it much bigger? Of the nonfinancial investments, Paul Harris and Michael Jordaan’s telco venture Rain is the biggest the ARC fund will have. Is it just a listed vehicle for that? No. When we started this we hadn’t done the Rain transaction. I think the idea of havi...
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