FINANCIAL services group Alexander Forbes is in talks to sell a stake in its AfriNet unit to African Rainbow Capital, according to a person familiar with the matter.African Rainbow Capital, chaired by billionaire Patrice Motsepe, plans to use the AfriNet acquisition to expand its operations outside SA, the person said, asking not to be identified because talks are private.Motsepe, 54, the richest black South African with a fortune of $1.7bn, started African Rainbow Capital in April with access to as much as R17bn in capital. He plans to build a financial-services company controlled by black people and spanning everything from life insurance and healthcare to money management and banking. AfriNet offers insurance and risk management services in 30 African countries.African Rainbow Capital co-CEO Johan van Zyl declined to comment, as Alexander Forbes spokesperson Lynn Stevens.• Profit GrowthAlexander Forbes rose as much as 4.5% before paring gains to trade 2.5% up at R6.66 as of 9.47a...
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