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
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