1st black bank... Data-only network Rain… Patrice Motsepe’s ARC is investing!

South African businessman Patrice Motsepe. Picture: The Motsepe Foundation.

(Also read: Billionaire Patrice Motsepe’s ARC to form South Africa’s first black-owned bank)

Instead of paying its first dividend, billionaire Patrice Motsepe’s African Rainbow Capital Investments (ARC) will rather hunt for new investments.

ARC invested a whopping R2.73 billion in the year to 30 June.

Most notable was ARC’s acquisition of TymeDigital and an additional investment of R1.12 billion in data-only mobile network Rain.

TymeDigital is South Africa’s first black-owned commercial bank.

Ray White (in for Bruce Whitfield on The Money Show) interviewed ARC co-CEO Johan van der Merwe.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

As we speak Johan van Zyl is at the Reserve Bank making our case there… We have to wait for them to give us approval… We believe it’s going to be very disruptive in the banking system…

Johan van der Merwe, African Rainbow Capital Investments

The original plan was to launch this year… if we get approval in the next few weeks…

Johan van der Merwe, African Rainbow Capital Investments

We believe these are investments that can grow massively… at that point in time, we’ll consider paying dividends… We invest for capital growth. They weren’t expecting dividends…

Johan van der Merwe, African Rainbow Capital Investments

We’ll be able to do more deals… because people want empowerment with money…

Johan van der Merwe, African Rainbow Capital Investments

We only invest over here, because this is where our competitive advantage is in terms of black economic empowerment.

Johan van der Merwe, African Rainbow Capital Investments

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
World-renowned futurist on how the world will change after Covid-19

World-renowned futurist on how the world will change after Covid-19

Faith Popcorn is a US futurist who coined the term 'cocooning' - something we are all ordered to do now.

The Money Show's Bruce Whitfield  breaks  down after Edcon chief begins to cry

The Money Show's Bruce Whitfield breaks down after Edcon chief begins to cry

Edcon CEO Grant Pattison broke down in tears today, telling suppliers the company only has sufficient liquidity to pay salaries.

Lockdown will impact on the collection and publication of statistics in SA

Lockdown will impact on the collection and publication of statistics in SA

Statistics South Africa warns the lockdown will impact on the collection and publication of official statistics.

SA Reserve Bank to buy government bonds to inject liquidity into market

SA Reserve Bank to buy government bonds to inject liquidity into market

In an unprecedented step, the Reserve Bank is buying government bonds.

Digital banks have started thriving

Digital banks have started thriving

Technological advancements have made it possible for new banks to operate and flourish.

Billionaire Patrice Motsepe’s ARC to form South Africa’s first black-owned bank

Billionaire Patrice Motsepe’s ARC to form South Africa’s first black-owned bank

The Money Show's Bruce Whitfield interviews Sandile Shabalala (CEO, TymeDigital) and Johan van der Merwe (co-CEO, ARC).

Popular articles
Two elderly people die while queuing for grant payments - Sassa

Two elderly people die while queuing for grant payments - Sassa

An elderly woman is believed to have collapsed when she was confirmed dead outside a Pimville Post Office in Johannesburg.

Sassa grant recipients endure long queues to receive their payouts

Sassa grant recipients endure long queues to receive their payouts

Eyewitness News reporter Kevin Brandt says some recipients turned back on Monday, saying they would try again the next day.

Which farmers should benefit from emergency aid, and who will need it?

Which farmers should benefit from emergency aid, and who will need it?

Stellenbosch University professor of agricultural economics professor Johann Kirsten looks at who should benefit from this money.

[LISTEN] #Covid-19: Psychiatrist offers support service to healthcare workers

[LISTEN] #Covid-19: Psychiatrist offers support service to healthcare workers

Joanne Joseph spoke to psychiatrist Dr Claire Lownie about the pro-bono offering.

'Police shot at Vosloorus man in his veranda, unprovoked'

'Police shot at Vosloorus man in his veranda, unprovoked'

Eyewitness News reporter Theto Mahlakoane gives details of what the community members saw when the man was killed.

[LISTEN] Most people are suffering from 'corona panic syndrome' - expert

[LISTEN] Most people are suffering from 'corona panic syndrome' - expert

Wits University clinical pharmacologist Dr Mohamed Irhuma says people must spend less time on social media.

Business Partners Limited preparing to administer Rupert funding for SMEs

Business Partners Limited preparing to administer Rupert funding for SMEs

Gushwell Brooks speaks to business partner Ben Bierman about how these funds will be administered.

SABC disputes Bemawu's claim that the broadcaster concealed COVID-19 case

SABC disputes Bemawu's claim that the broadcaster concealed COVID-19 case

Bemawu has accused the SABC of endangering the lives of employees.

Social grant payouts have been going smoothly - Lindiwe Zulu

Social grant payouts have been going smoothly - Lindiwe Zulu

Social development minister says they are also keeping in touch with other provinces where there seems to be challenges.

[COVID-19] Tracing people in informal settlements will be a challenge

[COVID-19] Tracing people in informal settlements will be a challenge

Bhekisisa Centre for Health Journalism journalist Joan van Dyk says it is an emotional job to be a tracer.