African Rainbow Capital (ARC) Investments, the JSE-listed, black-owned investment holdings company backed by Patrice Motsepe, has R2bn for acquisitive deals and plans to spend some of it in financial services. The company, which is majority owned by the unlisted African Rainbow Capital, would unveil deals in financial services in the coming weeks, including one that increases its stake in Afrocentric Investment Corporation, co-CEO Johan van Zyl said on Tuesday after announcing ARC Investments’s maiden results. ARC Investments listed on the JSE in September 2017. Since African Rainbow Capital’s formation in 2015, it has invested more than R7bn in 40 deals, making it one of SA’s largest black-empowered investment holdings companies. On Tuesday, for the first time since its formation, it provided detailed information on its underlying investments and future strategy. At the end of December, intrinsic net asset value amounted to about R9.1bn, comprising a portfolio value of R7.1bn and c...
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