Mining magnate Patrice Motsepe on Thursday announced the launch of investment company African Rainbow Capital (ARC).
ARC will focus on financial services and private equity in South Africa within a pan-African context.
Motsepe is ARC’s Chairperson.
Sanlam Investments CEO Johan van der Merwe and former Sanlam CEO Johan van Zyl are joint CEOs of ARC.
Machiel Reyneke is an Executive Director while Rejoice Simelane, Andrew Matube and Tom Boardman are non-executive Directors.
Boardman, the former CEO of Nedbank, will take on the role of chairman of the audit, risk and investment committees.
The Money Show’s Bruce Whitfield interviewed Van der Merwe.
Scroll down for quotes from the audio below.
ARC will build a black-empowered, diversified financial services business.— Johan van der Merwe
We’re looking at banking, asset management, property, healthcare and insurance.— Johan van der Merwe
Banking will be one of the building blocks of our new business.— Johan van der Merwe
There may be a listing in future, but not soon.— Johan van der Merwe
Johan and I have committed ourselves to this business for at least 10 years.— Johan van der Merwe
A lot of our profits will go to good causes.— Johan van der Merwe
First and foremost, we want to invest in South Africa. This is where we can leverage Patrice’s empowerment credentials.— Johan van der Merwe
You get what you give. It’s a fact of life. Financial Advisor Warren Ingram discusses giving back and your finances…
We interview one of Africa's richest people about her amazing life and her drive to make a difference by giving back.
Nathan Kirsh and Nicky Oppenheimer are richer than Richard Branson and much richer than Queen Elizabeth II.
Patrick Soon-Shiong, son of Chinese immigrants to SA, is the world’s richest doctor and the wealthiest resident of Los Angeles.
Jesus said poverty will always be with us. He was right, because poverty is relative, says the Free Market Foundation’s Leon Louw.
South Africa is a country of breath-taking wealth and life stealing poverty, according to an Oxfam report on extreme inequality.
ANC branch in the Eastern Cape, Z.R Mahabana, has launched a campaign backing Lindiwe Sisuslu as an ANC presidential candidate.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.
Fees Must Fall activists singing the national anthem with a new melody and phrases calling it a 'decolonised national anthem'.
After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?