ARC doubles portfolio value since listing
Acquisitions boost Patrice Motsepe’s African Rainbow Capital
Patrice Motsepe’s African Rainbow Capital (ARC) almost doubled its investments just nine months after it listed on the JSE. The investment group listed in September 2017 with an asset portfolio of R4.47bn. Since then, through acquisitions, it managed to grow its portfolio to R8.14bn by June. When cash and other assets are included, the company’s intrinsic net asset value rose 9.1% to R9.5bn since listing. Motsepe and his management team have invested in companies such as telecoms group Rain, new stock exchange A2X, Alexander Forbes, and Santam. In the nine months under review, they spent R3bn on increasing their interests in existing investments.
“People say [our] investments are too wide, we seem to be buying anything we can make money out of. But there is actually a method in our madness. We are buying businesses to stay in them forever. “But most importantly, we facilitate access to investments that would have otherwise been difficult to access,” said co-CEO Johan van der M...