Rand Merchant Investment Holdings (RMI) is weighing expansion beyond Africa as it seeks to diversify its portfolio and tap revenue outside its home continent after the unbundling of its stakes in insurers Discovery and Momentum Metropolitan.

The group said on Monday it would unbundle its 25% stake in Discovery and a 27.3% holding in Momentum Metropolitan to narrow its focus on short-term property and casualty insurance, which it would continue to drive in SA via its 89.1% investment in Outsurance. RMI will also issue as much as R6.5bn in new shares to help pay down almost R12bn in debt...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now