15 April 2016
Billionaire Patrice Motsepe, along with two Sanlam veterans, has officially launched a money management firm called African Rainbow Capital (ARC)
Motsepe, who is Chairperson, together with joint CEOs, Dr Johan van Zyl and Johan van der Merwe, unveiled the ARC at an event in Hyde Park in Joburg.
Van Zyl is a former CEO of Sanlam, while Van der Merwe previously headed up Sanlam Investments. Motsepe is a South African mining magnate and founder and Executive Chairperson of African Rainbow Minerals.
The newly established investment firm is set to invest in a range of sectors, from health management to property, both in SA and the rest of the continent.
Van Zyl said that the launch of the firm comes at a tough time for the local economy, but he explained that falling prices create opportunities for investors.