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.
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:
Recommendedby NEWSROOM AI
Faith Popcorn is a US futurist who coined the term 'cocooning' - something we are all ordered to do now.
Edcon CEO Grant Pattison broke down in tears today, telling suppliers the company only has sufficient liquidity to pay salaries.
Statistics South Africa warns the lockdown will impact on the collection and publication of official statistics.
In an unprecedented step, the Reserve Bank is buying government bonds.
Technological advancements have made it possible for new banks to operate and flourish.
The Money Show's Bruce Whitfield interviews Sandile Shabalala (CEO, TymeDigital) and Johan van der Merwe (co-CEO, ARC).
An elderly woman is believed to have collapsed when she was confirmed dead outside a Pimville Post Office in Johannesburg.
Eyewitness News reporter Kevin Brandt says some recipients turned back on Monday, saying they would try again the next day.
Stellenbosch University professor of agricultural economics professor Johann Kirsten looks at who should benefit from this money.
Joanne Joseph spoke to psychiatrist Dr Claire Lownie about the pro-bono offering.
Eyewitness News reporter Theto Mahlakoane gives details of what the community members saw when the man was killed.
Wits University clinical pharmacologist Dr Mohamed Irhuma says people must spend less time on social media.
Gushwell Brooks speaks to business partner Ben Bierman about how these funds will be administered.
Bemawu has accused the SABC of endangering the lives of employees.
Social development minister says they are also keeping in touch with other provinces where there seems to be challenges.
Bhekisisa Centre for Health Journalism journalist Joan van Dyk says it is an emotional job to be a tracer.