STEPHEN CRANSTON: A done deal for Patrice Motsepe
African Rainbow Capital is controlled by the Ubuntu-Botho Investments consortium, headed by billionaire Patrice Motsepe, and is probably the wealthiest BEE consortium in SA
27 August 2020 - 05:00
It was no secret that African Rainbow Capital (ARC) was lined up as the BEE empowerment partner to Sanlam Investments (SI). But it took incoming Sanlam group CEO Paul Hanratty to insist that negotiations were brought to a close. And it is not as if either party is so financially stretched it needs to quibble over the last rand to pay, either.
ARC is controlled by the Ubuntu-Botho Investments consortium, headed by billionaire Patrice Motsepe, and is probably the wealthiest BEE consortium in SA. It was given a R2bn facility by Sanlam in 2018 to expand its financial services portfolio...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.