26 July 2016
After establishing a partnership a decade ago, Sanlam and mining billionaire Patrice Motsepe’s company Ubuntu-Botho are collaborating on a new venture together that plans to raise $500 million (R6,2 billion) by early next year.
The companies will each invest $200 million (R2,5 billion) into the project and will raise the rest of the money from investors.
The Africa-focused private equity fund plans to invest in various industries including mining and financial services.
Last year, Sanlam announced that its initial successful partnership with Ubuntu-Botho, which began with a R1.3 billion investment, had created about R15 billion in value.