WATCH: Stock Pick — African Rainbow Capital
Grant Gilburt from Nedbank Private Wealth chose African Rainbow Capital (ARC) as his stock pick of the day
Grant Gilburt from Nedbank Private Wealth chose African Rainbow Capital (ARC) as his stock pick of the day.
"We're sticking with the investment holding companies — I really like the companies that they have invested in and that they have built within the ARC stable. They have a very credible management team and some challenger businesses within that stable. So their biggest asset is Rain, which is a data-only mobile provider and is bringing 5G to the local market.
“You also have Tyme digital bank, which is seemingly gaining traction but they really need to build scale in order to compete. [They are] hitting those numbers, on-boarding between 3,000 and 5,000 clients a day, so it is just a matter of time for them to gain that scale. Until then, you are buying this company at a deep discount."
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