Rain valued at R20bn, African Rainbow Capital says
Fund increases its equity stake in Rain and makes an additional investment of R169m of Tyme Group
17 September 2024 - 05:00
Patrice Motsepe’s African Rainbow Capital Investments (ARC) has invested further in Rain, increasing its equity stake in the telecom operator, with it now valuing the entire business at more than R20bn.
“During the year ARC Fund bought shares from some of the existing shareholders of Rain and invested funds in new ventures totalling R126m,” ARC said as it reported earnings for the 12 months to end-June. ..
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