Patrice Motsepe’s investment group African Rainbow Capital (ARC) has bought a 49% stake in Sinayo Securities, a black owned stock broking firm, for an undisclosed amount. The investment by ARC into Sinayo would significantly bolster Sinayo’s capital base, allowing it to execute large trades for clients and lift its daily trading capacity, the equities brokerage company said. Prior to the transaction, Sinayo’s limited capital base had restricted its "ability to break into equity brokerage opportunities that entail extremely large lines of securities". "Our capital adequacy is more robust than was the case before ARC became our equity partner. We are now in a position to facilitate and assist our clients when they trade large volumes and baskets of equities," said Babalwa Ngonyama, CEO of Sinayo Securities. ARC CEO Johan van Zyl said in addition to expanding its scope and capacity of its activities, the deal would also enable Sinayo to participate in an international equities trading ...
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