Motsepe's ARC to sail boldly into continent
Investment company plans to be trusted partner of foreign funds in rest of Africa
African Rainbow Capital (ARC) Investments, which holds minority stakes in pension fund administrator Alexander Forbes, upstart telecommunications company Rain and controls banking newcomer TymeBank, is raising billions of rands to put into businesses in the rest of the continent. The investment company, controlled by billionaire Patrice Motsepe, plans to be the trusted partner of foreign funds that would invest alongside it on the continent, ARC Investments CEO Johan van Zyl told Business Times. The black-empowerment investment group already has a financial services arm and a host of diversified investments in other sectors. It has more than 40 investments and prefers backing businesses that offer low-cost alternatives to SA's consumers. The rest of Africa is the next frontier. "We are providing a vehicle for those in developed markets to invest," said Van Zyl. For this purpose it established ARCH Emerging Markets Partners (ARCH EM) to geographically expand its reach beyond SA. ARCH...
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